Answer to Question #48179 in Microeconomics for simon

Question #48179
The table b elow shows the demand and supply schedules for a product. Price (Sh. Per Kg.) Demand (Kg) Supply (Kg.) 10 100 20 20 85 36 30 70 52 40 55 68 50 40 84 60 25 100 70 10 116 Required: Derive the demand and supply curves and determine the equilibrium price and quantity (6 marks) d) Given that: Q X = 3 – ½ P 2 Q Y = 4P + ½ P
1
Expert's answer
2014-11-12T13:17:19-0500
The table below shows the demand and supply schedules for a product.
P Qd Qs
10 100 20
20 85 36
30 70 52
40 55 68
50 40 84
60 25 100
70 10 116

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