The demand and supply curves for a certain product are given in terms of price, p, by and . What is the equilibrium quantity?
A)35
B)100
C)2
D)270

Question

The demand and supply curves for a certain product are given in terms of price, p, by  and  . What is the equilibrium quantity?
A)35 
B)100 
C)2 
D)270

Quizplus · Accepted Answer

To find the equilibrium quantity, we need to find the point where the demand and supply curves intersect. This occurs at a price of p = 5. At this price, the quantity demanded is Qd = 100 and the quantity supplied is Qs = 100, so the equilibrium quantity is 100. Therefore, the best choice is B.

The Demand and Supply Curves for a Certain Product Are