Question

1.A firms Supply and Demand equations are as follows: Supply: P = 2Q - 70 Demand: P = -2Q + 130 Calculate the X and Y intercept of Demand. Select one: a. P = $130, Qd = 65 b. P = $65, Qd = 130 c. P = $70, Qd = 35 d. P = -$70, Qd = 35 e. None of the above

2.Calculate the X and Y intercept of Supply.

Select one:

a. P = $70, Qs = 35

b. P = -$70, Qs = 35

c. P = $130, Qs = 65

d. P = $65, Qs = 130

e. None of the above

Answer 1

Answer 1) a

Answer 2) b

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