P Q Q. 26 430 460 23 480 420 20 530 375 12 665 320 10 700 310

1. Determine the demand and supply functions using Least Squares Method.

2.There is an increase in taxes by 19% which affected supplier's ability to produce products by 15%.

Compute for the new equilibrium price and quantity.

3. Government required both private and government institutions to increase salaries of employees by 3% which affected employees' ability to buy commodities by 5%. What is the new equilibrium price and quantity?

4. A portion of the population were laid off from work due to recession, which in turn affected demand by 3.30%.

Determine the new equilibrium price and quantity.