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Demand and supply equation

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Reference no: EM132414928

Give the following demand and supply equation 

Qd =100-5p 

Qs =10+5p 

Where Qd and Qs represent the quantity demanded and supply respectively and p is the price 

a) Determine the equilibrium price and quantity 

b) if the government set a minimum price of RM 10 per units ,calculate how many units would be supplied and how many would be demanded.explain the implication.

C) if the government set a maximum price RM5 per units,calculate how many units would be supplied and how many units would be demanded.explain implication.

D) if the demand increase to Qd=200-5,determine the new price quantity

Reference no: EM132414928

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