he demand and supply for a particular commodity are given by the following two equations:

Demand: P = 10 - 0.2Qd

and

Supply: P = 4 + 0.2Qs

Where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.

Using the equilibrium condition Qs = Qd, determine equilibrium price and equilibrium quantity.

Equilibrium price = $

6

Equilibrium quantity =

units

Graph the two equations to substantiate your answer.