If demand curve for radial car tyres is D 230000 19P and supply curve is S 180000 6P find the equili...........

General Studies (CHSL) Indian Economy

If demand curve for radial car tyres is D = 230000 - 19P and supply curve is S = 180000 + 6P, find the equilibrium Quantity?

19200 units

291000 units

29100 units

192000 units

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Explanation:

Equilibrium quantity is when supply equals demand for a product. The supply and demand curves have opposite trajectories and eventually intersect, creating economic equilibrium and equilibrium quantity. Hypothetically, this is the most efficient state the market can reach and the state to which it naturally gravitates.