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Given the quantity demanded as : Qd = 100-4P and quantity supplied as Qs = 40 + P a) Compute the equilibrium price and quantity.
Given the quantity demanded as : Qd = 100-4P and quantity supplied as Qs = 40 + P a) Compute the equilibrium price and quantity. Draw the equilibrium point. (5 marks) b) If quantity demanded change to Qd = 200 - 6P, what is the new equilibrium? Draw the new equilibrium point on the same diagram that you draw in question a. (5 marks) 
Given the quantity demanded as : Qd=1004P and quantity supplied as Qs=40+P a) Compute the equilibrium price and quantity. Draw the equilibrium point. (5 marks) b) If quantity demanded change to Qd=2006P, what is the new equilibrium? Draw the new equilibrium point on the same diagram that you draw in question a
Given the quantity demanded as : Qd = 100-4P and quantity supplied as Qs = 40 + P a) Compute the equilibrium price and quantity. Draw the equilibrium point. (5 marks) b) If quantity demanded change to Qd = 200 - 6P, what is the new equilibrium? Draw the new equilibrium point on the same diagram that you draw in question a. (5 marks)
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