(Answered) Original and inverse demand-supply equations

Management Studies

Question 1: Suppose the following equations represent the demand and supply of a good: Qd = 400- 2P, Qs = -50 + PFind the inverse demand-supply equations.

Graph both the original and inverse demand-supply equations and highlight their differences (slope, intercept etc.).

Question 2: Using these equations, calculate the equilibrium price and quantity. Suppose the government provides a subsidy ($10/unit) to the seller. Determine the new equilibrium price and quantity, and the amount of subsidy. Show them on a diagram.

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