Respuesta :
Answer:
Equilibrium Price = 40 ; Equilibrium Quantity = 600
Explanation:
Equilibrium is where : Market Quantity Demanded = Market Quantity Supplied
Market Quantity Demanded = No. of Consumers x Individual Demand Curve
= N x Qi = 100 [10 - 0.1P] = 1000 - 10P
Market Quantity Supplied = Qs [Given]
So, Equilibrium is where :
1000 - 10P = 20 P - 200
1000 + 200 = 20P + 10P
1200 = 30P
P = 1200 / 30 = 40 [Equilibrium Price]
Equilibrium Quantity : Putting Equilibrium price value in Quantity demanded & quantity supplied;
Quantity Demanded = 1000 - 10 (40) = 1000 - 400 = 600
Quantity Supplied = 20 (40) - 200 = 800 - 200 = 600
The equilibrium quantity in the computer speaker market is 600.
The equilibrium point in a market is the point at which the demand curve interests the supply curve. At the point, the quantity demanded would be the same as the quantity supplied. The quantity at equilibrium is known as equilibrium quantity and the price is known as equilibrium quantity.
In order to determine the equilibrium quantity, equate the demand and supply functions together. This is done because at equilibrium, quantity demanded and supplied would be equal.
Qd= Qs
Qd = Qi x number of consumers
(10 - 0.1P) x 100 = 1000 - 10p
1000 - 10p = 20P - 200
Combine similar terms
1000 + 200 = 20p + 10p
1200 = 30p
p = 40
Substitute for p in the supply equation
20(40) - 200
800 - 200 = 600
A similar question was answered here: https://brainly.com/question/14748234?referrer=searchResults
