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28 Sep 2019
A. consider a demand curve of the form
Qd=-2p+20
where Qd is the quantity demanded of a good and P is the price ofthe good.
Qs=2p-4
where Qs is the quantity supplied. Be sure to put P on the verticalaxsis. Assume that all the Qs and Ps are nonnegative for parts a,b, and c. At what vaules of P and Q do these curve intersect thatis, where does Qd=As
B. Now suppose at each price that individuals demand four moreunits of output--that the demand curve shift to Qd=-2p+24
Graph this new demand curve. At what values of P and Q does the newdemand curve intersect the old supply curve--that is, where does Qd=Qs
A. consider a demand curve of the form
Qd=-2p+20
where Qd is the quantity demanded of a good and P is the price ofthe good.
Qs=2p-4
where Qs is the quantity supplied. Be sure to put P on the verticalaxsis. Assume that all the Qs and Ps are nonnegative for parts a,b, and c. At what vaules of P and Q do these curve intersect thatis, where does Qd=As
B. Now suppose at each price that individuals demand four moreunits of output--that the demand curve shift to Qd=-2p+24
Graph this new demand curve. At what values of P and Q does the newdemand curve intersect the old supply curve--that is, where does Qd=Qs
Kritika KrishnakumarLv10
28 Sep 2019
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