Solving for equilibrium price and quantity mathematically

[@FreeEconHelp]

Thanks so much for watching, I hope you found it helpful! As always, please feel free to add questions below and I'll do my best to address them. Also, I really appreciate the "thank you!"s, LIKES, and subscribes. It really motivates me to keep making content. Good luck with your class and exams!

[@FerdinandLanzanas1980]

please help me to solve the case study and send it to my email [e-mail] CASE STUDY 2 PURE COMPETITION AND PURE MONOPOLY Suppose that in NCR, there are 100 identical stores selling the same product. The total daily market demand function for the product is given by Qd=600,000-2,500P where P is per unit price in pesos. Meanwhile, these stores, in total, will not provide anything if the purchase price is anything below Php 100 per unit. If the price is above Php 100, they’d be willing to produce 2,500 units which is really way down the demand. Required: Pure Competition a. Determine the equilibrium price and quantity. b. Draw a figure showing the market equilibrium condition of the problem above. c. Draw a figure for only one firm assuming that the market is nearly perfectly competitive. d. Explain why your figure in item c is consistent and correct. Pure Monopoly e. Suppose that the market is now monopolized. A cartel is formed, among the stores, which determine the price and quantity as a monopolist would and allocates production equally to each member. Draw a figure illustrating this condition and show the monopolist’s equilibrium output and price. f. How many should be the number of stores that would maximize the monopolist’s profits but still maintain equal allocation of output between the stores? Comparison g. Can you say that the monopoly leads to less efficient use of resources that perfect competition? h. How much is the deadweight-loss, if any?

[@arifakarim8570]

Thank you so much for this helpful & amazing vedio... From:- Karachi, Pakistan

[@r34steer8]

Can the equilibrium quantity have a decimal place?

[@faisaladam16]

Ten years later and this video is still helpful. Thank you.

[@sambahou6253]

I'm confused on how you got 20P for Quantity Supplied

[@heathermarie6398]

you have taught me more than almost two semester of econ

[@markryan53458]

HAHAHAHAHAHA LMAO

[@ionetwofarq1673]

I swear school is a scam. Teaching all sorts of useless info and making easy things seem hard

[@burhan222gaming3]

how did you get 20p as an ans for Qs

[@adarahab4476]

wow thank my doubts has been cleared

[@BartholomewTheIII]

how do you got tthe 20 p in Qs??? Do we divide the price by 4 or something??

[@mardellasunshine864]

I am still lost. I am trying to find the equilibrium price. The only information we have been provided is the product price and the quantity demanded.

[@kth_hmj]

Same

[@verlypangan8420]

Same

[@sabrinafrancis7433]

Same

[@geraldbelotindos9923]

Yeah same

[@smileyman1721]

Anyone else feeling fucked over taking this class on McGraw Hill?

[@yousafalam3062]

thank you so much sir. this video is too old but i watched it today for my tomorrow's paper and i was scared from demand and supply question but you let me learn it so well and easily. huge love and respect sir

[@mbeweethel9312]

how do you find the supply function =20p

[@MsLipsxLikeSugar]

I would like to know also 😢

[@sansanmangaliman1211]

Where did you get thd Qs=20?

[@kalumbamalama6729]

sTILL LOOKING FOR AN ANSWER HERE

[@nirikshbharti1118]

Qs is question (given) bro. Same as qd. You're not supposed to find it out. Qs and qd are there to help you find P.

[@AGloriousLife]

Where does the 20p come from?

[@janeclaudeespra443]

yeah I don't know where he get that 20p

[@machiirose]

Seven years later, still no answer lmao

[@akwxhid2244]

@@machiirose dang who knew this comment section is still active

[@akwxhid2244]

@G Leafy what’s up leafy my guy you as confused as the rest of us still

[@СарвинозАриматова]

He took this 20p rondomly

[@omnipotentwafflegod8061]

I dont understand how to put in my own numbers to this equation is it the same for all equations the 10,000 and the 80p or are these example numbers I was really confused by this part. EDIT I dont know what to put as P what number from my data is p do I just make price p or is it someother number no video explains how to get this equation and they're all different.

[@FreeEconHelp]

You can plug in ur own numbers. Generally Qd equals some big number minus some small number times price. The trick is to plug in ur own numbers and go! Good luck.

[@aislingjohn]

To help you apply your own numbers to this equation, Click here: kzbin.info/www/bejne/sGespot9nMeWrZI It helped me so I hope it does for you too.

[@dane1454]

where did the Qs=20 come from?

[@Shaye69]

Yeah I'm confused

[@janeclaudeespra443]

me too I'm confused

[@anayakhan229]

@@Shaye69 it is given in the question

[@MAHESHKUMAR-jz8fe]

Sir can you please tell me about pdf in which more problem and solution is given related to this topic

[@gagechelsea1796]

How do you find a and b in Qd=a-bP ?

[@k7211]

How did you find the supply function

[@rixckbarsi-giah2017]

Hi sir , Can find the equilibrium of the market price of aviation fuel assuming that diesel is the numeraire(i.e. pd=1)? assuming that there is only one consumer of aviation fuel and deseil . His income is 25. His preferences are U(A,D) =A0.8 D0.2

[@vasmar5498]

Good afternoon. I need your help please. Is it right that if Qs=2P and Qd=600-P the Equilibrium Price in AUTARKY is 200 and the quantity 400? Also, how do i find the amount of imports or exports if the world price is 125? And if there is a raise of a tariff on imports of 3750 euros, how do i find the amount of the tariff imposed per unit, the change both in consumer and in producer surplus, the net effect of such tariff if starting from the free trade equilibrium? Please, be so kind as to explain the way of the solution so that i can understand it and not just the straight solution. Thank you sooo much for your answer and help.

[@dilkimuthunayaka6837]

When we draw the graph, what is the x and y axis...as the funtion y=q and x=p

[@INTP564]

How did you get Qs= 20p someone please explain

[@trevornyce4155]

better then any teacher I've had,

[@jaiyeolausman8417]

what about having the demand equation as p=7-Q and supply equation as p=q. readily i went through inserting 7-Q=Q 2Q=7, that is Q 3.5. then p=7-3.5= 3.5. and still want to get the price elasticity of demand at equilibrium and total surplus

[@safizzle8]

Okay but how did u end up with the equation Qd=10,000-80p is this the equaion for every problem or do they give it to u in the book?

[@shaileeeey5103]

This is also what I'm looking for 🥺

[@KSneed9]

Everything online, about intermediate micro is bad. The question i have give me prices for certain products and his income and they want me to find the equilibrium price. How do I do that i i'm not provided a function?

[@Noname-yg4qe]

Ok I am so freaking confused. Everything makes sense except for what happens at 2:34. Where the *heck* did 10,000 and 80 p come from?? Where are those numbers coming from???

[@TomaniRoy]

(b) The demand and supply functions of two related goods are given by 𝑄𝑑1 = 300 − 50𝑃1 + 20𝑃2 𝑄𝑠1 = −200 + 40𝑃1 𝑄𝑑2 = 700+40𝑃1 − 40𝑃2 𝑄𝑠2 = −100 + 20𝑃2 Determine the equilibrium prices and quantities for the two commodities using the substitution method.

[@Smithy646]

How would you solve one if it was a two commodity model?

[@FreeEconHelp]

Not sure what you mean, are you talking about Walras law?

[@julierehoric3856]

Where did you come up with 20p ???? You had Qd on the left, then the right, back to the left? So confusing. Thank goodness for Kahn Academy- google if for all courses!

[@olajumokealbert6578]

God bless this calm,cool man, amen.

[@demsewtsegaw2305]

The utility function of a consumer from consumption of Q_1 units of good X_1and Q_2 units of good X_2 is given by U(Q_1 ,Q_2 )=5 ln⁡〖Q_1 〗+2 ln⁡〖Q_2 〗 , while the unit price of good X_1 is 4 dollars while that of good X_2 is 2. Find the combination of Q_1 and Q_2 which will maximize the utility function with the budget constraint of 28 dollars. Required Write the mathematical model. Write the Lagrange function. Test the output level using second order condition. Find the Lagrange multiplier and interpret it.

[@problematicsalt123]

Your videos are great and very helpful...Can you please make a video about the short-run and long-run in the competitive market.I'm struggling understanding how and why the equilibrium changes from the short-run to long-run.

[@ravitasingh2964]

Good explanation. But if only the demand equation is given eg Q = 80 - 2P and current price eg $30 per unit then how to find whether this is correct price to charge to maximize the revenue or not

[@mohammadabul-faraj7140]

You are fantastic. The explanation is very simple and clear. Thanks a lot for your effort. 👍👍

[@MsHeksie]

Qd =10-P+Y and Qs = 5+P, where Y = Consumer's income, so if I have to set equilibrium price and equilibrium quantity as functions of consumers income would that then mean Y = -5?

[@roseannaquino3621]

In less than 7 hours we would be having a quiz in our Applied Economics, and just 8 minutes and 4 seconds of watching your video compared to our 3 hours lecture at school? I can say that it was impeccable-y fruitful. Wish me luck :)

[@FreeEconHelp]

Good luck!

[@alexharuko1740]

sir , But what if the question is Qd = 150 - P , Qs = -60 + 2? How will you find the QD and QS?

[@kukoilunga4186]

Find the equilibrium price by equating the demand and supply functions and after you do so, plug in your answer (equilibrium price found) into Qs and Qd

[@Elilyz]

help!! consider a competitive market for a good where the demand is determined by the demand function: O=6-Qd and supply curve is determined by the supply function: P=2+Qs. what is the quantity demanded of the good when the price level is: P=$2? what is the quantity supplied of the good when the price level is: P=$2? what is the equilibrium quantity level for the good in the competitive market? what is the equilibrium price level for the good in the competitive market? what is tge consumer and producers surplus in the competitive narket? what is the level surplus in the competitive market? thanks for your help! is so confusing for me, my teacher never explained to the class!

[@viane123456]

If only demand function and Equilibirium condition is given how can we derive supply function?

[@Gertenbol1]

You are a hero without cape who just gave me hope again that with your help I can do this.

[@RichardHLim]

hello.. can you help me..there is an equation asking for equilibirum price: Qd = 200 - 4P Qs = 6P when I do the online quiz with your way of calculating the answer should be 20..but result of my exam saids it's 10..is there something wrong with it?thx

[@The3nlightened0ne]

Hey is this assumption correct: when the equilibrium quantity of a good increases, its complement's equilibrium quantity increases too.

[@DanielShikongoyoungdan2701]

help !!! Two products A and B are competetive. The demand Xa and Xb for these products are related to their prices Pa and Pb according to demand equations: Xa=17-2Pa+1/2Pb and Xb=20-3Pb+1/2Pa. Supply equations are: Pa=2+Xa+1/3Xb and Pb=2+1/2Xa+1/4Xa giving the prices at which the quantities Xa and Xb of the two products will be available on the market. For the market equilibrium, all for equations must be satisfied. Find the equilibrium values of Xa,Xb,Pa and Pb in that order.

[@williamjunior2240]

how did you get 20p?

[@jamiegrimes9806]

it was a question or he just made it up you need qd and qs functions in order to work out what he did

[@abdallaalali6236]

help, consider inverse demand and supply given by( Price demanded=75/quantity demanded) (price supply=10+Qs+ λQs) 1) write down market equilibrium and find equilibrium quantity 2)using market equilibrium , compute the change in equilibrium quantity following a change in λ can you help please

[@techleson9198]

I have trouble in like the table in finding the quantity demanded like the teacher didnt taught us how

[@sabahattariq9271]

the supply and demad for broccoli are described by the following equations;supply;QS=6p-80 and demand QD=120-4p q is in bshels and p is in dollars per bushel. a. graph the supply curve and demand curve.what is the equalibrium price and quantity. b.calculate the consumer surplus,producer surplus and total surplus at the equalibrium. c.if a dictator who hated broccoli were to ban the vegetables, who would bear the larger burden-the buyers or sellers of broccoli. please sir solve it for me today

[@derro4103]

where did u get the Qs

[@BubbleBratable]

I personally think he did an amazing job of showing us how to work these out, if you paid any attention!! THANK YOU!

[@auggie1.0]

if you paid attention? people are trying their best, be a little considerate - v ignorant.

[@yesman8074]

Thanks this helped a lot! Only took 2minutes of you talking to understand what i should do

[@Sprefi89]

So how do we graph this

[@ponluer-8716]

Can you help to do some exercise about economic?

[@mishaeldelosmartirez1353]

What if Qs was not given? How will I solve for it?

[@Pigrabbit1412]

HELP PLEASE !!! x,y, and z are endogenous while r,s, and t are exogenous Solve for equilibrium of endogenous in terms of exogenous x + y = 4t + s + r 2x + 3z = 14r + 3s x =2z what do i do?????????

[@lamevea7619]

what happens to 10,000/80 when solving back for Qd?

[@annieluo6870]

Where did “20p” come from?

[@alumi9818]

no idea, can't find a video doing a decent job explaining it either.

[@testing-gn8vj]

@@alumi9818 bit late but here is where it came from: 10,000 - 80p = 20p We want to isolate the constant on one hand and price on the other. In order to achieve this we do: 10,000 - 80p + 80p = 20 + 80p -80p and 80p cancel out, giving us: 10,000 = 100p Remember what you do on one side of the equation you do on the other side, because it is an equality.

[@christinemacabodbod233]

@@testing-gn8vj thank you. You're a life saver

[@RezhenColminas091101]

Hold up! Where did that 20p came from?

[@sujal1583]

Magic!

[@secondglance90]

Yeah where did it come from ???🤔🤔

[@kairaang9078]

Can you do an example for disequilibrium???

[@serenacain2162]

What if i got an equation as follows. Qd= 120-p Qs=5p

[@FreeEconHelp]

Set Qd equal to Qs and solve for p. 120 - p = 5p p = 20, now solve for Q which will be 100.

[@marleyboy9864]

Nice. Very simple and helpful

[@Drjacevedo]

The closer you get to proving your estimation the more accurate the execution to your plan will be. Data mining, indexes, and industry standards should help.

[@Uytube11]

Has Jack Black become an economics teacher? :D

[@ginaignatti6607]

Hi am confused how you got 20p?

[@moiz994]

D = MPB=20-QD S = MPC=Q how do you find equilibrium P and Q for the above mentioned equation?

[@FreeEconHelp]

If MPB and MPC represent price, then you can set them equal to each other and solve for Q, then sub it back in to get P. I'm getting Q = 10, and P = 10.

[@nawalchrouki5389]

Can you help me with this: Qd=172-20p+20pb+3pc+0.002R Pb=$4 ,c=$3 ,pH=$1.5,y=12500 What are the equilibrium price and quantity, the revenue created in the market? Show the equilibrium diagram . Can you help me with this or gave me example can help me with it pls

[@aymennoor6238]

how to find output level for this inverse demand function q=1000-50p

[@kilomike08]

Thank you! This is very helpful!!

[@ABPLUG]

My professor didn’t even know what a ROI was. I’m really rethinking college 🤣

[@toanvo618]

so touching for an excellent video

[@smoothiekingisfinewithme]

After watching tons of videos on equilibrim price and quantity I finally got it after watching this vid. Thanks a million!

[@ghersheycalayag3324]

How do you get 20??

[@sajeebroy1258]

q=-1250p.How can i solve this question?Please tell me.

[@yasithsugathapala4693]

Hello. i have a question. Can i please send a picture through email or something. So you can teach me. Please reply soon

[@FreeEconHelp]

Sorry, I don’t understand exactly what you were asking for.

[@sephiayvonnereyes1194]

Thank you so so much :))) huge help, sir. take care and stay safe.. Love from the Philippines :))

[@sbati22]

is that your real voice?

[@pmahon345]

what confuses me is what squares are involved. Example, supply is p=160q and demand is p= - q^2 + 8000

[@rushelledwards9041]

how to find the equilibrium price and quantity for the following Qd-128+9p=0 while the supply is QS+32-7=0

[@loyalonestore]

Thank you very much you for helping me ❤

[@HAMZAkhan-mo5kl]

Can any one guied me about find value of products by mathematical question??

[@honeypalmere9518]

Where that 20p came from?

[@relorock7318]

Camera quality aint clear.

[@raiedsalim9473]

all the best for all , I need help in how to calculate Equilibrium Level of Output (GDP) using table & equations ??

[@donnyferphilippe1720]

redheartbluecover on youtube

[@deveneshparthasarathee7680]

I thought it will be hard to calculate but you did a fantastic job showing how to work this out.Thank you so much

[@azimahtahir9639]

P=-4Qd + 120 P=1/3Qs + 29 how to clculate the equilibrium price & quantity

[@FreeEconHelp]

You can set the P's equal to each other and then solve for Q, once you have that Q, plug it into the other equation to find P.

[@azimahtahir9639]

Free Econ Help ..ok once got..how to use the new equilibrium with a tax

[@FerdinandLanzanas1980]

CASE STUDY 2 PURE COMPETITION AND PURE MONOPOLY Suppose that in NCR, there are 100 identical stores selling the same product. The total daily market demand function for the product is given by Qd=600,000-2,500P where P is per unit price in pesos. Meanwhile, these stores, in total, will not provide anything if the purchase price is anything below Php 100 per unit. If the price is above Php 100, they’d be willing to produce 2,500 units which is really way down the demand. Required: Pure Competition a. Determine the equilibrium price and quantity. b. Draw a figure showing the market equilibrium condition of the problem above. c. Draw a figure for only one firm assuming that the market is nearly perfectly competitive. d. Explain why your figure in item c is consistent and correct. Pure Monopoly e. Suppose that the market is now monopolized. A cartel is formed, among the stores, which determine the price and quantity as a monopolist would and allocates production equally to each member. Draw a figure illustrating this condition and show the monopolist’s equilibrium output and price. f. How many should be the number of stores that would maximize the monopolist’s profits but still maintain equal allocation of output between the stores? Comparison g. Can you say that the monopoly leads to less efficient use of resources that perfect competition? h. How much is the deadweight-loss, if any?

[@gaviolarhoda4450]

Where should we see 80p??

[@TomAaaa-x6k]

as someone who doesn't have a A-level or degree in math, this video is literally no help, it doesn't explain, at all, the rules for rearranging the formula - it also directly contradicts itself ' watch from 2:40 - 2:52 (this method solves for Q .....its possible this doesn't solve for Q- mispronunciation or an intentional paradox?) -also; why does the starting expression and the expression at 4:24 state the exact same thing? -why is 10,000/80 not equal 125? -how am i supposed to know which expressions are able to be cancelled out and which aren't? -why don't we just add 80p to both sides from the start and cancel it out? i appreciate that the author is trying to help people understand; but the level of knowledge he assumes is too much - im in first year economics without an A-level in Economics and it is IMPOSSIBLE to pick anything, up no one starts with the fundamentals and explains what they're not doing and why they aren't doing it as well as what they are doing - no one ever states the rules, just takes it as a given that i've got them memorized and am clearly terminally stupid for not pretending i do ...... these videos are for people who already know what they are doing and want a tiny little re-fresh. As someone starting from scratch, this video clearly isn't targeted to me at all - i understand less now then before i watched

[@toodle4332]

I want to beat my head against a rock! I fucking hate algebra! and economics. This is so hard i envy anyone who can wrap their head around this to me its just random numbers with no connections at all!

[@svenssondoitzelkaiser1475]

be patient with it. write out everything you see that is taught to you. listen very carefuly, and consider what is happening when it is explained. and when i say write out everything, really write out everything. also, you know you are ready to take a test when you can do a problem without stopping to think about how it is done for too long.

[@anikaoneil2324]

How at 20p for the Qs

[@karolisjurasunas6300]

The demand at a market with full competition is characterised by the following Demand/price function and Supply function P=1000-1/500x S=100+1/500x Calculate the equilibrium price and quantity. Can you help me guys?

[@FreeEconHelp]

Karolis Jurasunas set P=S (I'm guessing these represent the demand and supply functions), then solve for x (which I assume represents price). When you get x, plug that into either equation and solve for P (or S) to get quantity.

[@bob3104558]

No he is a robot and can emulate his voice to anything he likes.

[@ashleyhyman28]

If the first step is to solve the functions in terms of Q. Why didnt you start with an equation that starts with P in order show the steps ans how to solve for Q?

[@FreeEconHelp]

Good question, about 90 percent of questions will already be solved for Q, but just in case they weren’t I wanted to make it clear that it is necessary before you move on to step 2.

[@gracioustanatswamuchimbiri5366]

Where does the 20P come from...aaaa

[@tegenegoshu4790]

I'm sorry I ask question 1,Assume that dd & as function of good Y is given as follows respectively : Qdy =30-2py and p=1/2Qs+10, find the equilibrium price and equilibrium quantity

[@lotdelacruz1459]

Quantity Demand Function. Is Very Hard InthePhilippines

[@zubainalumantag6194]

Qd=50-10P Qs=10Px how pls help

[@kobe5607]

how the Qs =20p?

[@Henry-jg4hj]

Thankn you for the help

[@fatmatakamara9570]

I love it sir am In commercial department

[@learnwithmuhammadshan1182]

How to solve 3p+q2+5q-102 and p-2q2+3q=71