(Answered) Asume thata the supply schedule is given from p 2

Management Studies

Assume that:

a) The supply schedule is given from P = 2 + 3Qs

And

b) The demand schedule is given from P= 10 - Qd

Find the equilibrium price & the equilibrium quantity.

Draw a diagram to account for equilibrium price, equilibrium quantity, slope, etc.

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