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What will be the equilibrium price and quantity

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Reference no: EM132246885

a) Suppose the supply and demand curves for skateboards in the United States are given by the following set of equations:

Qs = -60 + 3P

Qd = 390 - 2P

What will be the equilibrium price and quantity in the United States for skateboards?

b) Suppose (as in the previous question) the supply and demand curves for skateboards in the United States are given by the following set of equations:

Qs = -60 + 3P

Qd = 390 - 2P

What will be the new equilibrium price and quantity in the United States for skateboards if demand increases by 100 units along the quantity axis

Reference no: EM132246885

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