Question: Assume a demand equation: Q d = 9 - 0 . 1 p - p b + 0 . 0 1 p c m +

Assume a demand equation:
Qd=9-0.1p-pb+0.01pcm+0.0001Y
and a supply equation:
QS=0.1p-0.02pfg+0.01N+0.01T-0.1w
where:
\table[[p= price of lobster,Q= quantity in thousands of units],[pb= price of butter =$3,pfg= price of fishing gear =$450
Assume a demand equation: Q d = 9 - 0 . 1 p - p b

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