suppose-you-are-given-the-demand-equation-as-p-900-3q-and-the-supply-equation-as

Question

Suppose you are given the demand equation as P = 900 - 3Q and the supply equation as Q = 2P - 100. Which approach would be more efficient to find equilibrium, and why?

Accepted Answer

Rearrange the demand equation to isolate Q, so both equations have Q isolated, making it easier to set them equal and solve.

Answer

Rearrange both equations to isolate P, even if it requires more algebra.

Answer

It does not matter which variable is isolated; the process is always the same length.

Answer

Always use the equations as given, regardless of which variable is isolated.