Please consider a product that has five different price points per unit: $100, $

ID: 1257669 • Letter: P

Question

Please consider a product that has five different price points per unit: $100, $200, $300, $400, and $500 find out the corresponding Quantity Demanded (Qd) and Quantity Supplied (Qs) from the following two equations:
Demand equation: Qd = 1500 -2P
Supply equation: Qs = 3P
Now, your assignment (homework) is to create a three column Table in which you will plot the five price points and corresponding Qd and Qs and then find the equilibrium price (P*) and equilibrium quantity (Q*) using Microsoft excel

Explanation / Answer

We cant import excel workbook here.

Open microsoft excel.Then click on insert and create table.

Price Qd=1500-2P Qs=3P 100 1300 300 200 1100 600 300 900 900 400 700 1200 500 500 1500

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Please consider a product that has five different price points per unit: $100, $

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