Demand equation and supply equation

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Reference no: EM13998641

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

Reference no: EM13998641

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