Consider a hypothetical demand and supply schedule of a commodity as given below-WhinePrice of Z Rs- - 2 - 4 - 6 - 8 - 10 ll hlineQsin kg - 20 - 40 - 60 - 80 - 100 Whline lendarray Draw a diagram- and find the equilibrium price and equilibrium quantity-

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Standard XI

Economics

Duopoly Games

Consider a hy...

Question

Consider a hypothetical demand and supply schedule of a commodity as given below:

$\begin{matrix} P r i c e o f Z (R s .) & 2 & 4 & 6 & 8 & 10 Q d (i n k g) & 100 & 80 & 60 & 40 & 20 Q s (i n k g) & 20 & 40 & 60 & 80 & 100 \end{matrix}$

Draw a diagram, and find the equilibrium price and equilibrium quantity.

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Solution

Equilibrium price = Rs. 6
Equilibrium quantity = 60 kg

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Consider a hypothetical demand and supply schedule of a commodity as given below: Price of Z(Rs.)246810Qd(in kg)10080604020Qs(in kg)20406080100 Draw a diagram, and find the equilibrium price and equilibrium quantity.

Equilibrium price = Rs. 6 Equilibrium quantity = 60 kg

Equilibrium price = Rs. 6
Equilibrium quantity = 60 kg