00:01
So here we have a market, right? our supply equation of 40 plus 5p, and we have a demand equation of 120 minus 10p.
00:12
Now what we want to think about, we want a surplus of equal to 10.
00:18
Well, what does that mean, right? if we think about a market, and a market is quantity and price, supply, oh, sorry, demand and supply.
00:28
When we say surplus, we mean that the quantity supplied is greater than the quantity demanded.
00:34
So we want a price like this, where this and this, right, are a difference of 10, right? we want them 10 apart.
00:46
So we want qs minus qd is equal to 10, right? we want the difference of these things to be 10 with qs bigger...