1. Find the equilibrium price and quantity with QD = 90 -15P and QS =-35 + 10P.
2. Increase the demand function in problem 1 by 20 and calculate the new equilibrium price and quantity.

Note that the new demand curve should show that the QD is 20 units greater at every price, not just the just the problem equilibrium quantity. Add 20 to the demand equation.   

Answer rating: 100% (QA)

To find the equilibrium price and quantity in the given supply and demand scenario we need to set th... View the full answer