Credit Sprint / Practice problems / Equilibrium from supply and demand equations

Equilibrium from supply and demand equations practice problems

Microeconomics Unit 2. Try each one, then open the worked solution. The Credit Sprint app generates unlimited new versions with fresh numbers.

Problem 1.

Demand is Qd = 129 − 5P and supply is Qs = −51 + 4P. What is the equilibrium price?

Show solution

129 − 5P = -51 + 4P → 180 = 9P → P = $20. Quantity = 29.

Problem 2.

Demand is Qd = 50 − 2P and supply is Qs = −4 + 4P. What is the equilibrium price?

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50 − 2P = -4 + 4P → 54 = 6P → P = $9. Quantity = 32.

Problem 3.

Demand is Qd = 86 − 2P and supply is Qs = 32 + 1P. What is the equilibrium price?

Show solution

86 − 2P = 32 + 1P → 54 = 3P → P = $18. Quantity = 50.

Problem 4.

Demand is Qd = 54 − 3P and supply is Qs = 26 + 1P. What is the equilibrium price?

Show solution

54 − 3P = 26 + 1P → 28 = 4P → P = $7. Quantity = 33.

Problem 5.

Demand is Qd = 113 − 2P and supply is Qs = 37 + 2P. What is the equilibrium price?

Show solution

113 − 2P = 37 + 2P → 76 = 4P → P = $19. Quantity = 75.

Problem 6.

Demand is Qd = 62 − 2P and supply is Qs = 17 + 1P. What is the equilibrium price?

Show solution

62 − 2P = 17 + 1P → 45 = 3P → P = $15. Quantity = 32.