Question
c. Calculate equilibrium price and equilibrium quantity and fill the following column Qs =-400 + 20P Qd = 1,400-10P Od 1,400-5P Qd3 1,400-15P Table
c. Calculate equilibrium price and equilibrium quantity and fill the following column Qs =-400 + 20P Qd = 1,400-10P Od 1,400-5P Qd3 1,400-15P Table 2 160 140 120 d. Draw the three demand functions and one supply curves according to the estimation in the table-2 and point out equilibrium levels 100 80 60 2 40 Price 20 0 20 40 60 80 100 120 140 160 Supply = -400 + 20P 400 Demand = Demand = Demand3 = 1,400-10P 1,400-5P 1,400-15P 500 600 700 800 900 1000 1100 1200
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
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