Find equilibrium Price and quantity from the following demand and supply functions, also determine whether demand is elastic or inelastic. i. Qd=95-3P 2 Qs= -10+6P ii. Qd=1400-60P Qs= -400+30P B. Yesterday price of the pencils box was Rs 60 a box, and Ali was willing to buy 12 boxes. Today the price goes up to Rs 84 a box, and now Ali is willing to buy 8 boxes. Is Ali’s demand for a pencil box is elastic or inelastic? What is Ali’s elasticity of demand

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