1.

(i) Calculate the equilibrium price and quantity for the demand and supply curves of a particular commodity given by Qd=10-p and Qs=p (ii) What will happen when the market price is Rs. 7? (iii) What will happen when the market price is Rs. 3?

Answer»

(i) Calculate the equilibrium price and quantity for the demand and supply curves of a particular commodity given by Qd=10-p and Qs=p
(ii) What will happen when the market price is Rs. 7?
(iii) What will happen when the market price is Rs. 3?



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