Consider the following demand and supply functions qd 100, Ask an Expert

Economics

Consider the following demand and supply functions: Qd = 100 - 5P and Qs = 4 + 3P.

1. What is the slope of each line?

2. What is the equilibrium price and quantity?

3. Graph the demand and supply functions in the typical manner with price (P) on the Y-axis and quantity on the X-axis, showing their intercepts.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91227303

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