math practice for economics activity 21 answer
2P \] \[ 80 = 5P \] \[ P^ = \frac{80}{5} = 16 \] Plug back into either function to find the equilibrium quantity: \[ Q_d = 100 - 2(16) = 100 - 32 = 68 \] Thus, the equilibrium price is $16, and the equilibrium quan