Option 1: Equilibrium price = 100, Equilibrium Quantity = 900 -> At equilibrium, quantity demanded equals quantity supplied (Q_d = Q_s). Setting the equations equal: 1000 - p = 700 + 2p, which gives 300 = 3p, so p = 100. Substituting back: Q_d = 1000 - 100 = 900 and Q_s = 700 + 2(100) = 900. Both demand and supply equal 900 units at price 100, confirming this as the market equilibrium. -> correct
Suppose the demand and supply curves of salt are given by: Q_d = 1000 - p Q_s = 700 + 2p Find the equilibrium price and quantity.
CUET UG 2025 — Economics Micro
2025mcqeasy
Suppose the demand and supply curves of salt are given by:
Qd=1000−p
Qs=700+2p
Find the equilibrium price and quantity.
Official previous-year question
Held on 2 Jun 2025 · Verified 13 Jul 2026.
Options
- A
Equilibrium price = 100, Equilibrium Quantity = 900
- B
Equilibrium price = 200, Equilibrium Quantity = 900
- C
Equilibrium price = 200, Equilibrium Quantity = 600
- D
Equilibrium price = 100, Equilibrium Quantity = 600
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