Microeconomics

SIMULTANEOUS CHANGE IN DEMAND AND SUPPLY Assignment 2 - Final Period 1. The original demand and supply equations are Od = 120 - 10P and Qs = -5 + 5P respectively, solve for the new price and quantity equilibrium given that after a time period there exist a simultaneous decrease in demand by 6 units and decrease in supply by 12 units. 2. The original demand and supply equations are Od = 12 - P and Qs = 0 + (1/2)P respectively, solve for the new price and quantity equilibrium given that after a time period there exist a simultaneous increase in demand by 3 units and increase in supply by 5 units. 3. The original demand and supply equations are Od = 100 - 3P and Qs = 10 + (3/2)P respectively, solve for the new price and quantity equilibrium given that after a time period there exist a simultaneous increase in demand by 10 units and decrease in supply by 3 units