Question
1. Come up with a pair of Supply & Demand model equations that solve for positive values for their equilibrium, and either a price ceiling
1. Come up with a pair of Supply & Demand model equations that solve for positive values for their equilibrium, and either a price ceiling or price floor value. You should solve it to make sure it works so there is a positive quantity that would be traded.
eg Pd = 100- 5Qd Ps = 20 + 2 Qs, with a price ceiling of $40
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
