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Equilibrium price of a weezil

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Reference no: EM131588910

The following are the equations for the supply and demand curves in the market for weezils:

Demand:Qd = 20 - 2PSupply:Qs = 5 + 3P

where Qd is the quantity demanded, Qs is the quantity supplied, and P is the price per weezil in dollars.

According to the data given, the equilibrium price of a weezil is

a. $5.

b. $3.

c. $14.

d. $11.

Reference no: EM131588910

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