If the perfectly competitive market demand for gym shoes is given by QD = 100 – P and the market supply is given by QS = 10 + 2P, then the equilibrium price and quantity will be:
a. P = 50 and Q = 50.
b. P = 40 and Q = 90.
c. P = 40 and Q = 60.
d. P = 30 and Q = 70.
e. P = 25 and Q = 75

Question

10-07-2024
Business

Answered

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If the perfectly competitive market demand for gym shoes is given by QD = 100 – P and the market supply is given by QS = 10 + 2P, then the equilibrium price and quantity will be:
a. P = 50 and Q = 50.
b. P = 40 and Q = 90.
c. P = 40 and Q = 60.
d. P = 30 and Q = 70.
e. P = 25 and Q = 75

Sagot :

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