c. Calculate equilibrium price and equilibrium quantity and fill the following columnQs = -400 + 20PQd = 1,400 – 10PQd2 = 1,400 – 5PQdz = 1,400 – 15PTable – 2PriceSupply-400 + 20PDemand =%3DDemand2 =1,400 – 10P | 1,400 – 5PDemand3 =1,400 – 15P20406080100120140160d. Draw the three demand functions and one supply curves according to the estimation inthe table-2 and point out equilibrium levels160140 -12010080 -604020400500600700800900100011001200

c. Calculate equilibrium price and equilibrium quantity and fill the following column Qs = -400 + 20P Qd = 1,400 – 10P Qd2 = 1,400 – 5P Qdz = 1,400 – 15P Table – 2 Price Supply = -400 + 20P Demand; 1,400 – 15P Demand Demand2 = 1,400 – 10P | 1,400 – 5P %3D %3D 20 40 60 80 100 120 140 160

c. Calculate equilibrium price and equilibrium quantity and fill the following column Qs = -400 + 20P Qd = 1,400 – 10P Qd2 = 1,400 – 5P Qdz = 1,400 – 15P Table – 2 Price Supply = -400 + 20P Demand; 1,400 – 15P Demand Demand2 = 1,400 – 10P | 1,400 – 5P %3D %3D 20 40 60 80 100 120 140 160

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 6CQQ

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