Call Now: (+61) 416-195-006
At a local market in Industria, the following demand and supply information are given:
Demand for energy bars: P = 800 − 2QD
Supply for energy bars: P = 200 + 1Qs
1. What are the market equilibrium price and quantity?
2. If the subsequent price increases by $1, how does demand and supply change? Explain with the help of the concepts of the law of demand and supply.
Want to contact us directly? No Problem. We are always here for you