At what price will a trader be ready to sell 6 oranges using the equilibrium below. p = 1/2 q + 2. where p is price and q is quantity?

At what price will a trader be ready to sell 6 oranges using the equilibrium below. p = 1/2 q + 2. where p is price and q is quantity?

Answer Details

To find the price at which a trader will be ready to sell 6 oranges, we can substitute q = 6 in the equilibrium equation p = 1/2q + 2. p = 1/2(6) + 2 p = 3 + 2 p = 5 Therefore, the trader will be ready to sell 6 oranges at a price of N5.00.