I need some assistance, any details you can give me to work out this problem would be appreciated:
Assume that the daily demand for daycare services in the province of Quebec is given by P=60-2Qd while the supply of the daycare services is given by p=15=1Qs
Where P is the price charged for a single child who is in a daycare or preschool for a day, and Q is the toal number in thousands of children in the daycare each day.
What is the equilibrium price and the qty.
Assume that the daily demand for daycare services in the province of Quebec is given by P=60-2Qd while the supply of the daycare services is given by p=15=1Qs
Where P is the price charged for a single child who is in a daycare or preschool for a day, and Q is the toal number in thousands of children in the daycare each day.
What is the equilibrium price and the qty.