Posted: October 19th, 2022

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

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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

 

       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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