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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