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A-LevelEconomicsThe price system and the microeconomy9708/12 · Oct/Nov 2012 · Q91 Mark

The market demand equation for a good is given by Qd = 310 - 20p and the supply Qs = 10 + 10p where p denotes the price of the good. What is the equilibrium price?

A5
B10
C15
D20

✓ Correct answer

B: 10

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About this question

Topic
The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source
A-Level Economics, Oct/Nov 2012 Paper 1 Variant 2, question 9.

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