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Demand and Supply and Equilibrium Maths (HELP)

 
 
Reply Thu 22 Sep, 2016 02:34 pm
I've been trying to do these questions but I've very confused. Can someone help me with the answer to this?? Any help appreciated, thank you! Smile

"Consider the following equations:

Qd: -P + 15
Qs: 2P - 9

(a) Find the equilibrium using simultaneous equations.
(b) On a diagram sketch the demand curve and supply curve"

How would I do about doing these questions?

Thanks!
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Type: Question • Score: 0 • Views: 681 • Replies: 1

 
Kolyo
 
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Reply Thu 22 Sep, 2016 03:05 pm
@UltraToons,
Here's the system of equations:

Q= -P + 15
Q= 2P - 9

Solve it. Then graph the two lines.
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