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- Qd = 900 - 10p
- p = 15 + 0.05Qs
- making Qs the subject of formular
- p - 15 = 0.05Qs
- Qs= (p-15)/0.05
- then now to solve the equlibrium
- Qd=Qs
- 900 - 10p = (p-15)/0.05
- (900 - 10p)* 0.05 = p - 15
- 45 - 0.5p = p - 15
- 45 + 15 = p + 0.05p
- 60 = 1.05p
- p = 60/1.05 = 57.1
- insert p into Qd
- Qd = 900 - 10(57.1)
- = 900 - 571
- Qd = 329
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