Question

←

The demand curve is P = 50-1Qp
Draw the demand curve and label it.
The supply curve is P = 40 + 1Qg-
Draw the supply curve and label it.
Draw a point at the market
equilibrium.
>>> Make your curve intersect the
y-axis.
...
60-
50-
40-
30-
20-
10-
Price
0
2.5
5
10
7.5
Quantity
>>> Draw only the objects specified in the question.
12.5
15
Q
ON

Answer 1

The demand curve is shown below, with the equation P = 50 - 1Qp. The supply curve is shown below, with the equation P = 40 + 1Qs. The point at the market equilibrium is shown with an asterisk, where the two curves intersect.

Demand Curve: 60- 50- * 40- 30- 20- 10- Price 0 2.5 5 10 7.5 Quantity 12.5 15 Q ON

Supply Curve: 60- 50- 40- * 30- 20- 10- Price 0 2.5 5 10 7.5 Quantity 12.5 15 Q ON