Chapter 4 Formulas Flashcards
1
Q
What is the formula for the supply curve
A
Qs = c + dP
C is supply qty
P is price
d is
2
Q
What is the formula for equilibrium price
A
Pe = (a-c)
——
(b+d)
3
Q
What is the formula for the equilibrium quantity
A
Fill in the formula for demand curve and supply curve with the equilibrium price
Qd = a-bP
Sd= c+dP
4
Q
What is the formula for the X intercept
A
a/b
5
Q
What is the formula for Y intercept
A
-c / d
6
Q
What is the equation for the demand curve
A
Qd = a-bP
a is the qty demanded
P is price
