(adsbygoogle = window.adsbygoogle || []).push({}); 1. The problem statement, all variables and given/known data

P = -50Qd + 80

P = 2Qs + 10

P = Price

Qd = Quantity demanded

Qs = Quantity supplied

Find the equilibrium Price and Quantity.

2. Relevant equations

Qd = Qs

(equilibrium)

3. The attempt at a solution

Qd = Qs

Q

Since they both equal to P

-50Q + 80 = 2Q + 10 [-2Q]

-52Q + 80 = 10 [-80]

-52Q = -70 [/52Q]

Q = 70/52

Equilibrium Quantity = 70/52

I don't know why this is wrong?

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# Homework Help: Simple Linear Equation?

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