Question: Please see attachment for question. Explain your answer thoroughly, write legibly, and ensure that it is 100% correct. Derive the equilibrium price if S(p) =

Please see attachment for question.

Explain your answer thoroughly, write legibly, and ensure that it is 100% correct.

Derive the equilibrium price if S(p) = ap+ bp + c= with a = 0, b = 40 and c = -12,000 and D(p) = ap+ bp+c= with a = 0, b = -100 and c = 30,000 Draw the graph of S(p) and D(p) What happened? Think of a product with this equilibrium quantity and equilibrium price

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