Discuss the factors that affect demand and supply. Find equilibrium price and quantity for the following market: Qs+45-8P = 0 Qd-125+2P=0 where, Qs - Quantity supplied; Qd- Quantity demanded; & P = Price a) Show with the help of a diagram how equilibrium price and quantity in a competitive market settles down at the intersection of demand and supply using the above example. b) Using the above diagram show how a shift in demand affects the market equilibrium. 4.5 2.0