The individual demand and supply curve of a product are Dx=12-2px, Sx=3+5px,Wher Px stand for price and Dx and Sx espectively stand for quantity demanded and quantity ssupplied.If there are 5000 consumers and 1000 supplies for the product under question.What will be the equilibrium price?Ans 3.8 plz explain
see demand is 5000 and supply is 1000 i.e demand is 5times of supply
now if for verifying your answer we put 3.8 in place of px in both eqn s dx = 4.4 and sx =22
i.e 5dx=4.4 x 5 =22 =sx hence 5dx = sx proved
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