Question

You’re given the following two equations representing the market for loanable funds: QL = 14.1 + 2.6r QL = 54.1 - 2.8r What is the equilibrium quantity of loanable funds? Please round to 1 decimal place and do not include a percentage sign (%) in your answer.

Name: youre given the following two equations representing the market for loanable funds ql 141 26r ql 541 28r what is the equilibrium quantity of loanable funds please round to 1 decimal place and do not i
Uploaded: 2022-04-27T04:53:29-08:00
Duration: 3 min 54 s
Channel: Jonathan Tapiwa
Description: youre given the following two equations representing the market for loanable funds ql 141 26r ql 541 28r what is the equilibrium quantity of loanable funds please round to 1 decimal place and do not i

          You’re given the following two equations representing the market for loanable funds:

QL = 14.1 + 2.6r

QL = 54.1 - 2.8r

What is the equilibrium quantity of loanable funds? Please round to 1 decimal place and do not include a percentage sign (%) in your answer.

Added by Ashley O.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Jonathan Tapiwa

04/27/2022

Step 1

1 + 2.6r = 54.1 - 2.8r This simplifies to: 5.4r = 40 Show more…

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You’re given the following two equations representing the market for loanable funds: QL = 14.1 + 2.6r QL = 54.1 - 2.8r What is the equilibrium quantity of loanable funds? Please round to 1 decimal place and do not include a percentage sign (%) in your answer.