economic task

Project Description:

i only have 4 hours to get it back. if you are interested let me know. do not waste your time, asking me for more money.

1. prepare a worksheet/table with a column for quantity ranging from 0 to 14 in increments of 2. use the formulas shown below to calculate pd and ps.

q
pd: demand
pd = 24 - qd ps: supply
ps = 4 + qs
0




pd is the market demand relationship expressed as price being a function of quantity. ps is the market supply relationship expressed as price being a function of quantity. what are the market equilibrium price and quantity?

2. add to your table another market supply relationship: p’s = 8 + qs. then calculate the price values for p’s (q)). what are the new market equilibrium price and quantity?

3. create graphs of pd, ps and p’s. label them d, s, and s’ respectively. use the quantity data as the x-axis.
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