Indian Economy

General Studies (CHSL)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

If demand curve for trekking boots is D = 67500 - 18P and supply curve is S = 22500 + 12P, find the equilibrium Price?

1500

750

2250

500

Demand Curve is D= 67500-18P , and Supply Curve is S= 22500+12P ,

there fore ,

67500 - 18 P = 22500 +12P

= 67500 - 22500 =12P-18P

= 45000 = - 30. Therefore, 45000 / 30 = 1500.

therefore, equilibrium price = 1500.