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Hey everyone and welcome back to the channel. Today weamp;#39;re going to be covering how to determine equilibrium quantity and price but without drawing a supply and demand graph. Youamp;#39;ll use this if youamp;#39;re writing a test and you donamp;#39;t want to take the time to draw out the actual supply and demand curves, so you simply use algebra to solve using the two equations. With that said, letamp;#39;s get into it! So here we have our supply and demand equations. Quantity demanded is equal to 100 minus 3P and the quantity supplied is equal to 2P plus 20. Now as youamp;#39;ll notice looking at the demand equation, thereamp;#39;s an inverse relationship between Qd and P. And that makes sense because the law of demand says as price goes up quantity demanded goes down. So therefore thereamp;#39;s a negative sign in front of the coefficient for P. Youamp;#39;ll also notice that there is a positive correlation between quantity supplied and pric
