Given the following equations, Quantity Demanded = 90-2P Quantity Supplied = P
What is the equilibrium price and quantity? Illustrate in a graph.
If the price is $20? What will Qd and Qs be? Illustrate in a graph.
At a price of 20$ would there be a surplus or a shortage in the market. Specify if there are changes in Demand or Qty Demanded, Supply or Qty Supplied Illustrate in a graph