a. Calculate equilibrium price and equilibrium quantity and fill the following columns Table - 1 Supply = | -400 + 20P Price Demand = 1,400 – 10P 20 40 60 80 100 | 120 140 160 b. Draw the demand and supply curves according to the estimation in the table-1

a. Calculate equilibrium price and equilibrium quantity and fill the following columns Table - 1 Supply = | -400 + 20P Price Demand = 1,400 – 10P 20 40 60 80 100 | 120 140 160 b. Draw the demand and supply curves according to the estimation in the table-1

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section3.3: The Market: Putting Supply And Demand Together

Problem 3ST

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Question

a. Calculate equilibrium price and equilibrium quantity and fill the following columns
Table - 1
Supply =
400 + 20P
Price
Demand
1,400 – 10P
20
40
60
80
100
120
140
160
b. Draw the demand and supply curves according to the estimation in the table-1
160
140
120
100
80
60
40
20
700
800
900
1000
1100
1200
400
500
600

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