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![Suppose that demand for a good is given by
\[
Q^{D}=30-P
\]
Supply is given by
\[
Q^{S}=6+b * P
\]
where \( b=3.0 \). What is](https://media.cheggcdn.com/study/fa5/fa51f6a8-61a9-41f9-9cbd-6297f2a1f481/image)
Expert Answer
Given:Demand: Q = 30 - PSupply: Q = 6 + b*Pb = 3Solution:Substitute b = 3 in Supply Equation:Supply: Q = 6 + b*PSupply: Q = 6 + 3*P