Suppose that the monthly demand function of a particular, Ask an Expert

Economics

Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply function is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos.

a) Determine the equilibrium prics and quantity

b) At a unit prices of P 140, by how many unit does supply exceed demand.

c) At a unit prices of P 90, by how many unit does demand exceed supply.

d) Graph the demand and supply equations in the same coordinate plane.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91339321

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