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The monthly demand curve for pizza for a typical college student, and the monthly supply curve for a typical pizzeria…

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October 19th, 2022

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The monthly demand curve for pizza for a typical college student, and the monthly supply curve for a typical pizzeria in a college town are given below.

qd = 50 – 5p

                             qs = -15,0000 + 5,000p

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       Assume that the demand and supply curves are linear and that there are 10,000 identical consumers and 10 identical pizza makers. Find the equilibrium price and quantity in this market.

 

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