#1. Find the equilibrium price and quantity with QD = 90 -16P and QS = 14P.

#2. Increase the supply function in problem 1 by 18 and calculate the new equilibrium price and quantity.
(Note that the new supply curve should show that the QS is 18 units greater at every price.)

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Bunny GreenfelderLv2

13 Aug 2019

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Assume that demand for a commodity is represented by the equation P=18-2Qd and supply is represented by the equation P=-2+2Qs.

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