The demand and supply functions of a good are $$ \begin{array}{l}P=-5 Q_{d}+83 \ P=10 Q_{s}+3 \ ext { Give the exact values. }\end{array} $$.

Question

The demand and supply functions of a good are $$ \begin{array}{l}P=-5 Q_{d}+83 \ P=10 Q_{s}+3 \ 	ext { Give the exact values. }\end{array} $$.

Ellis Marshall · Accepted Answer

The equilibrium quantity is $$Q = \frac{16}{3}$$ and the equilibrium price is $$P = \frac{169}{3}$$.

The demand and supply functions of a good are \( \begin{array}{l}P=-5 Q_{d}+83 \\ P=10 Q_{s}+3 \\ \text { Give the exact values. }\end{array} \).