Let Qd306p and Qs 9p Equilibrium combination is p10 q90 or

Let Qd=30-6p and Qs =9p , Equilibrium combination is p*=10; q*=90 or p*=2;q*=18 or p*=18; q*=2 or p*=2; q*=15

Solution

At equilibrium

Qd = Qs

30 - 6p = 9p

15p = 30

p* = 2

Setting value of the equilibrium price in the supply function we get,

q* = 9*2 = 18

Thus, equilibrium combination is p*=2;q*=18

Let Qd=30-6p and Qs =9p , Equilibrium combination is p*=10; q*=90 or p*=2;q*=18 or p*=18; q*=2 or p*=2; q*=15SolutionAt equilibrium Qd = Qs 30 - 6p = 9p 15p = 3

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