Calculate the equilibrium price and quantity of good x

Reference no: EM13244866

The following equations describe the demand and supply ofgood X:
Xd = 20- 2P
Xs = -4 + 2P
a) Calculate the equilibrium price and quantity, and show them on adiagram.
b) Assuming a price higher than the equilibrium price, anddetermine the excess supply.

Reference no: EM13244866

Questions Cloud

Describe robert nardelli leadership style in terms of leader : Robert Nardelli was heavily criticized for his leadership style and methods he used during his tenure as CEO of Home Depot. Using document attachment, along with outside research, describe his style of leadership and take a position on whether you th..

Referring to the materials provided for this assignment : Using the critical thinking skills you have gained so far and referring to the materials provided for this assignment, identify two possible strategies that Thomas Hutchinson or Samuel Adams likely used to develop and improve their thinking as those ..

Leadership and organization behavior : Leadership and organization behavior

Revolutions are still prevalent in contemporary societies : Do you feel that the conditions which inspired revolutions are still prevalent in contemporary societies? If so, are those conditions likely to spark revolutions within the 21st century?

Calculate the equilibrium price and quantity of good x : a) Calculate the equilibrium price and quantity, and show them on a diagram. b) Assuming a price higher than the equilibrium price, anddetermine the excess supply.

Causes of the new imperialism of the nineteenth century : What were the causes of the new imperialism of the nineteenth century, and how did it differ from European expansion in earlier periods?

What is magnitude of potential difference between a and b : The work done by an external force to move a -7.75 µC charge from point a to point b is 25.0 ? 10-4 J, what is the magnitude of the potential difference between a and b

An oxidation half reaction and the reduction half reaction : Balance the following redox equations. Identify the oxidation half reaction and the reduction half reaction.

Uniform commercial code makes to the common law of contract : 1. What are some of the major changes that the Uniform Commercial Code makes to the common law of contracts? Why must a merchant in particular be keenly aware of the UCC?

User Account

All Pages