To sove a economic question i need to use algebra first.
P= - 1/4Qd+6.75
P = 1/2Qs + 2
So i got for the first step:
1/4 Qd = - p + 48
1/2 Qs = p - 2
but i need to get the 1/4 and 1/2 on the right side which i don't know how.
I would reall appreciate your help.
Good so far. Now divide both sides of the equals sign by 1/2.1/2 Qs = p - 2
Qs = 2(p-2)
Qs = 2p-4
Add 1/4Qd to both sides:P= - 1/4Qd+6.75
P+1/4Qd = -1/4Qd+6.75+1/4Qd
P+1/4Qd = 6.75
Now subtract P from both sides
P+1/4Qd-P = 6.75-P
1/4Qd = 6.75 -P
Then divide both sides by 1/4
Qd = 4(6.75 - p)
Qd = 27-4p