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Can you please verify the attached graph is correct for the following questions? Demand for parking in the City of Chambana is given by Q

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Can you please verify the attached graph is correct for the following questions?

Demand for parking in the City of Chambana is given by Qd= 180 - 0.5P, and the supply is Qs= P - 60, where price is in cents per car per day and quantity is in hundreds of cars parked per day.

  1. Draw a graph of the given demand and supply curve and label it as D0 and S0.
  2. Indicate numerically all relevant intercepts for your demand and supply curves on your graph.
  3. Find the short run equilibrium price and quantity in this market and label the numbers you found on the graph.
  4. State your equilibrium price and quantity under your graph; be careful in correctly using the units of measurement indicated in the directions for this question.
image text in transcribedimage text in transcribed
(in cents 360 320 280 S 240 So 62 200 4 30 sents 180 160 Consumer Burden E 1 1 Do 20 40 60 80 100 120 Quantity ( in hundreds)

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