Demand Data:

Quantity $($Units$)$ Demand Price $($$$)$

$50350$

$100330$

$150310$

$200290$

$250270$

$300250$

$350230$

$400210$

$450190$

$500170$

a$.$ Use linear regression to find the demand function from the given data.

b$.$ State and interpret the slope of the demand function in a complete sentence.

c$.$ At a price of $$100,$ the quantity supplied is $50$ units. At a price of $$280,$ the quantity

supplied is $500$ units. Using the given points, determine the supply function.

d$.$ Graph the supply function and the demand function on the same set of axes. Your

graph must contain a title, labeled axes, unit, and scale. Identify the equilibrium

point on the graph.

e$.$ Find the equilibrium point algebraically. Discuss the significance of the equilibrium

point. How does it affect the pricing strategy and production level of Green Energy

Solutions?

f$.$ Determine if there is a surplus or shortage in the market at a price of $$300.$ Calculate

the surplus or shortage quantity and explain its implications for the business.

g$.$ Determine if there is a surplus or shortage in the market at a price of $$150.$ Calculate

the surplus shortage quantity and explain its implications for the business.