Question

1. The market demand and supply was given as follow: Qd = 10 – 2P Qs...

1. The market demand and supply was given as follow: Qd = 10 – 2P Qs = -5 + 3P

a) Compute for the Price equilibrium

b) Compute for the Quantity equilibrium

c) Plot/graph the following equation.

2. Given the equation, find the equilibrium price and quantity of the following market and plot the equation. 13P – Qs = 27 Qd + 4P – 24 = 0

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