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If demand curve for almonds is D= 73000-30P and supply curve is S=18000+25P, find the equilibrium Quantity ?
  • a)
    7,000 units
  • b)
    4,000 units
  • c)
    1,000 units
  • d)
    8,000 units
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
If demand curve for almonds is D= 73000-30P and supply curve is S=180...
The demand function is
d = 73000 − 30p
The supply function is
s = 18000 + 25p
At equilibrium demand and supply are equal.
s = d
73000 − 30p = 18000 + 25p
73000 − 18000 = 30p + 25p
55000 = 55p
1000 = p
Hence, the correct option is (c).
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Most Upvoted Answer
If demand curve for almonds is D= 73000-30P and supply curve is S=180...
Given, Demand curve for almonds is D = 73000 - 30P and supply curve is S = 18000 + 25P.

To find the equilibrium quantity, we need to equate demand and supply equations and solve for P and Q.

73000 - 30P = 18000 + 25P
55P = 55000
P = 1000

Substituting P = 1000 in either demand or supply equation, we can find the equilibrium quantity.

At P = 1000,
D = 73000 - 30(1000) = 43000
S = 18000 + 25(1000) = 43000

Therefore, the equilibrium quantity is 8000 units.

Hence, the correct answer is option D.
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If demand curve for almonds is D= 73000-30P and supply curve is S=18000+25P, find the equilibrium Quantity ?a)7,000 unitsb)4,000 unitsc)1,000 unitsd)8,000 unitsCorrect answer is option 'D'. Can you explain this answer?
Question Description
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