Question: Given the quadratic supply and demand functions, determine the equilibrium price and quantity. P=Q s 2 + 2Q s +12 P= -Q D 2 -

  1. Given the quadratic supply and demand functions, determine the equilibrium price

and quantity.

P=Qs2 + 2Qs +12

P= -QD2 - 4QD + 68

2 Given

C = 0.8Y + 80

I = 70

G = 130

X = 100

M = 0.2Y + 50

Find

(I) The reduced form

(II) Determine the equilibrium level of income using reduced form.

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