1. Solve the following equations for equilibrium price and quantity.

Demand Curve: Qdx = 10-2Px

Supply Curve: Qsx = 5 + 3Px

2.Solve the following equation for Qdx:

Qdx = 1000-2Px+4Py-2Pz+10Yn-3Yi+6T+8#B+4EXPpy

Given:

I. Py = $10

Pz= $2

Yn=$200

Yi=$20

T=50

#B=30

EXPpy=$40

Px=$100

3.Solve the following equation for Qsx:

Qsx = 10+2Px-3C+4#S+5Tech

Given:

C = $100

#S= 500

Tech = 40

Px = $100

4.You will probably notice that $100 is not the equilibrium price because Qdx is not equal to Qdx. The equilibrium price and quantity of x are jointly determined by supply and demand. Given the demand and supply equations in question 2 and question 3, solve for the equilibrium price and the equilibrium quantity.