Question: The demand function for a product is: od =1,000-10P, and its supply function is: to3 = 100 + 2P. The equilibrium price of the good

The demand function for a product is: od =1,000-10P, and its supply function is: to3 = 100 + 2P. The equilibrium price of the good is equal to CI. The equilibrium quantity of the good is equal to D. From a gure showing the demand and supply curves of the good, the equilibrium price and quantity can be determined from the V . highest point of the supply curve intersection point of the two curves highest point of the demand curve

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