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What is the equilibrium price in the market for ice cream

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Reference no: EM131868590

The market demand function for ice cream cones is Qd = 19.5 - 5P.

The market supply function for ice cream cones is

QS = 10P - 17  

a. What is the equilibrium price in the market for ice cream cones?

Instructions: Round your answer to 2 decimal places.

$.

b. What is the equilibrium quantity in the market for ice cream cones?

Instructions: Round your answer to the nearest whole number.

Reference no: EM131868590

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