# Calculating Equilibrium Price: Definition, Equation & Example

Instructions:

question 1 of 3

### What is the equilibrium quantity given the following demand and supply curves? Q sub s = 10+2P Q sub d = 30-12P

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### 2. What is the market equilibrium price given the two formulas below? Pd = 6 - Q Ps = 1 + 0.25Q

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The questions on this quiz and worksheet include practice problems that ask you to find the equilibrium quantity or price. Other questions will ask you about concepts like the algebraic calculation of equilibrium and how equilibrium price is depicted on a graph.

## Quiz & Worksheet Goals

Be sure you can answer questions on the following if you want to pass this quiz:

• Finding the equilibrium quantity from given demand and supply curves
• Where the equilibrium price is shown, graphically
• Solving for equilibrium price
• Calculating equilibrium price algebraically

## Skills Practiced

• Reading comprehension - ensure that you draw the most important information from the related lesson on calculating equilibrium price
• Interpreting information - verify that you can read information regarding graphs of equilibrium price and interpret it correctly
• Problem solving - find the equilibrium price in practice problems