2:15 AM Thu Jun 29 v ~ ':~' 23% CD

2:15 AM Thu Jun 29 nrooou uestionl. Show all our ste sand inter ret our results 18 Marks 2 Marks each Question) You are given the following information about the market for Computers. Market Equation # 1 : P = 300 2Q Market Equation #2: P = 100 + 2Q Determine the demand and supply curve from the equations above. (Justify your answer) 1- Equation one (1) is 2- Equation (2) is b/c b/c 3- Graph the demand and supply curve. Determine the equilibrium quantity and price. (Sketch the steps) 4- P equilibrium 5- Quantity Equilibrium 6- What is the value of consumer surplus in this market? 7. What is the value of producer surplus in this market? 8- . What is the value of the total surplus? 9- Describe this situation from a social point of view. (One sentence) @ 230/0 (v) 5 11