Problem 1

a. Estimate the demand equation for the product.

Month	price	Amount
January	18	50
February	16	55
March	14	60
April	12	65
May	10	70
June	8	75

b. Estimate the supply equation that the product presents.

Month	price	Amount
January	10	70
February	11	90
March	12	110
April	13	130
May	14	150
June	15	170

c. If that buyer and seller of the above data come together in a market, will it be possible for the breakeven point to be obtained?Use the graphical and mathematical process to find the solution