Home Owners Supply Schedule: P = 10 + Q

Demand Rooms : P = 100 - Q

Hotel Supply Schedule: P = 20 + .5Q

Q = # of rooms in a period of time

a.First, calculate the equilibrium price and quantity of rooms when only the commercial sellers are in the market.Calculate CS and commercial seller PS.

b.Next, find the overall supply curve for rooms when the residential sellers enter the market.

c.Calculate the equilibrium price and quantity when the residential sellers are in.

d.Calculate CS, as well as the PS for residential and commercial sellers, respectively.