Calculating Equilibrium from Slopes and Surplus
In the market for wheat, the supply curve is linear with a slope of 5 and the demand curve is linear with a slope of -3. A price of $8 per unit causes a surplus of 24 units. What is the equilibrium quantity?
A
25 units
B
48 units
C
36 units
D
72 units
Question Leaderboard
| Rank | |||||
|---|---|---|---|---|---|
| #1 | nisak4sh | 1 | 3 | 0m 00s | 80 |
| #2 | jk.charnnapas | 1 | 1 | 0m 28s | 72 |
| #3 | 410078 | 0 | 1 | 0m 00s | -10 |
| #4 | minsoesan448 | 0 | 1 | 0m 00s | -10 |
| #5 | cjs2409 | 0 | 1 | 0m 02s | -12 |
| #6 | alyaozbutev | 0 | 1 | 0m 58s | -68 |
| #7 | jcbaird17 | 0 | 1 | 2m 15s | -145 |
| #8 | Hyhak0401 | 0 | 1 | 8m 05s | -495 |
| #9 | e11102akshara | 1 | 4 | 11m 11s | -601 |
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