Market Equilibrium
Jammu & Kashmir Board · Class 12 · Economics
All formulas from Market Equilibrium in Jammu & Kashmir Board Class 12 Economics. Key equations, constants, and identities for board exam preparation.
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2. Example 5.1: Wheat market with fixed number of firms
q^D = 200 - p for 0 <= p <= 200; q^D = 0 for p > 200
q^S = 120 + p for p >= 10; q^S = 0 for 0 <= p < 10
ED(p) = q^D - q^S = 200 - p - (120 + p) = 80 - 2p
ES(p) = q^S - q^D = 120 + p - (200 - p) = 2p - 80
3. Labour market and wage determination
w = MRP_L
MRP_L = MR x MP_L
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