Let eq= equilibrium at eq, qd=qs substitute qd= 15 - 1.5p and qs=p in the above derived equation to find the equilibrium price (P.e) therefore,   15 - 1.5p = p group like terms -1.5p - p = -15 -2.5p = -15 make p the subject of the equation by dividing both side by -2.5 therefore, -2.5p/-2.5 … Read more