= Quantity supplied at time t

= Quantity demanded at time t

= Price of good at time t

= -Pt +2Pt-1

= 50 – 0.5Pt

The market is in equilibrium

I am asked to find the price path for Pt if P0 = 30

Im a little unsure as to whether I’ve plugged the right info into the formula

Rearranging that I get

Therefore I get

I’m unsure as to whether I’ve actually done this correctly, as my understanding on this isn’t that great, any help would be very much appreciated.