Question: All below (3) problems fit the model of solving for equilibrium using the Demand and Supply Equation Functions. Either plot the Graphs manually or by

All below (3) problems fit the model of solving for equilibrium using the Demand and Supply Equation Functions. Either plot the Graphs manually or by using any computer software such as Excel

Problem 1:

Qd = 400 - 2 P

Qs = -23+ 4p

a. Calcite the Price and Quantity Equilibrium

b. Plot the Graph

c. Discuss the final result.

d. What happens if there is an increase in the equilibrium quantity supplied? How does this impact the equation?

Problem 2:

Qd = 400 - 2

P Qs = 8 P

a. Calcite the Price and Quantity Equilibrium

b. Plot the Graph

c. Discuss the final result.

Problem 3:

Qd = 900 - 2 P

Qs = 10 P

a. Calcite the Price and Quantity Equilibrium

b. Plot the Graph

c. Discuss the final result.

d. What happens if there is an increase in the equilibrium quantity demanded? How does this impact the equation?

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