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John's T-shirt business uses the demand function P= -Q + 38 and the supply
function P = Q-6. According to these functions, what will the equilibrium
point be for John's T-shirt business (i.e., the number of T-shirts sold and the
price at which they're sold)?
O A. (6,38)
O B. (16,22
O C. (22,16)
O D. (38,6)

Respuesta :

letmeanswer

The correct option is - B (16, 22)

Explanation:

Given:

Demand function = P = -Q +38

Supply function = P = Q – 6

In order to find the equilibrium, the demand function must be equal to the supply function.

Thus, putting the demand function equal to the supply function , we get,

Q – 6 = -Q + 38

Solving the above equations, Q = 22

Now, putting the value of Q in demand function in order to find out the value of P,

P = -22 + 38

P = 16

Thus, Option B is correct (16, 22)

Answer:

22,16

Explanation:

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