# The demand function is represented by the equation Qc = 200-3P, and the supply function

**The demand function is represented by the equation Qc = 200-3P, and the supply function is represented by the equation Qp = 2P-100, where P is the price in rubles, and the quantities of demand Qc and supply Qp are in thousands of pieces. A) Find the equilibrium price and the equilibrium quantity.**

To find the equilibrium price, it is necessary to equate the supply and demand functions.

Qs = Qd.

200 – 3P = 2P – 100.

200 + 100 = 2P + 3P.

300 = 5P.

P = 300: 5.

P = 60.

We found that the equilibrium price is 60 rubles, and in order to find the equilibrium quantity of supply and demand, this price must be substituted into each equation.

Qs = 200 – 3 * 60 = 200 – 180 = 20 thousand pieces.

Qd = 2 * 60 – 100 = 120 – 100 = 20 thousand pieces.

Answer: the equilibrium price is 60 rubles, the equilibrium quantity is 20 thousand pieces.