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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Nidhi taparia Best Answer
The correct answer is (1) 44. Given, Equation 1 : p = 100 - 4x Equation 2 : p = 30 + x At equilibrium, demand price = supply price. So p (in equation 1) = p (in equation 2) 100 - 4x = 30 + x, or 70 = 5x, or x = 14. (x is the quantity). Now, p = 30 + x = 30 + 14 = 44 or p = 100 - 4x = 100 - 4(14) = 100 - 56 = 44.