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3. The Market Forces of Supply and Demand

Supply and Demand: Quantitative Analysis

3. The Market Forces of Supply and Demand

Supply and Demand: Quantitative Analysis

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Equation of a Demand Curve

Equation of a Demand Curve

Isolating Variables in the Demand Equation

Isolating Variables in the Demand Equation

Equation of a Supply Curve

Equation of a Supply Curve

Isolating Variables in the Supply Equation

Isolating Variables in the Supply Equation

Finding Equilibrium Using Algebra

Finding Equilibrium Using Algebra

Finding Equilibrium Using Algebra

Finding Equilibrium Using Algebra

Finding Equilibrium with Equations and a Graph

Finding Equilibrium with Equations and a Graph

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Practice this topic

Multiple Choice

The supply and demand curves for a product are as follows:

Q_d = 10560 − 80P
P = 1 40Q_s + 6

What is the equilibrium price and quantity of the product?