Question: MARKET STRUCTURE: LINEAR DEMAND AND LINEAR SUPPLY* 1) In the green cells, type the intercept and slope of the inverse market demand function P =

MARKET STRUCTURE: LINEAR DEMAND AND LINEAR SUPPLY* 1) In the green cells, type the intercept and slope of the inverse market demand function P = a - bQ and then PRESS EI Intercept (a) 100 Slope (b) 8 2) In the green cell, type the intercept and slope of the inverse market supply function P = c + dQ and then PRESS EN. Intercept (c) 50 Slope (d) DEMAND AND SUPPLY EQUILIBRIUM OUTCOME: Market Quantity 5.0 Price $60.00 Consumer Surplus $100.00 Producer Surplus $25.00 * Note: Intercept (a) must be greater than Intercept (c)

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