The state of the market if market price was fixed at Birr 25 per unit is excess demand
Quantity demanded
Qd = 50 - p
p = Qs + 5
p - 5 = Qs
if market price was fixed at Birr 25 per unit?
Qd = 50 - p
= 50 - 25
Qd = 25
Qs = p - 5
= 25 - 5
Qs = 20
The state of the market if market price was fixed at Birr 25 per unit is excess demand (demand greater than supply) leading to an increase in price.
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