Activity 2 : Demand Function

1.From the following demand function, determine the equilibrium price and quantity

Qd = 1800 - 5P

Where P - price

Qd - quantity demanded

2.Suppose that the demand function for a commodity is given by Qd = 9000 -100P

a. Derive the market demand schedule for this commodity using the various prices below.

Indicate your answer on the corresponding space provided. Please show your computations

PRICE Qd 10 ______ 20 ______ 30 ______ 40 ______ 50 ______ 60 ______ 70 ______

b. Draw the demand curve for this commodity