Ecomomics: Demand and Supply
Demand function Qd + 20 â?" P
Supply Function: Qs = -10 + 2P
Q1. Find the equilibrium price and quantity. Show your work
Q2. Assume demand function has changed t0o Qd2 = 14-P. What is the new equilibrium price and quantity? Show your work
Show all your work i.e. excel spread sheet, graphs and formulas used