Q1) Supply and demand equation are given by: Qd= -2Pd +100 Qs= Ps - 5 a) Find market equilibrium? b) If there is an increase in income that shift the demand curve by two units, find market equilibrium?

Q1) Supply and demand equation are given by: Qd= -2Pd +100 Qs= Ps - 5 a) Find market equilibrium? b) If there is an increase in income that shift the demand curve by two units, find market equilibrium?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 1QP

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