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I have a supply and demand schedule as follows Price Quantity Demanded Quantity Supplied 20 95 30 40 90 40 60 85 50 80 80
I have a supply and demand schedule as follows
Price Quantity Demanded Quantity Supplied
20 95 30
40 90 40
60 85 50
80 80 60
100 75 70
120 70 80
How can I find the equilibrium price and quantity algebraically? I know I need to find demand and supply curve and I know how to find the slope, but I'm confused on how to get the whole equation, like the y-intercept.
Thanks!
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