Graphically the equilibrium price and quantity

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Reference no: EM13861726

You are given the following Functions:

Qd= 40-2P

Qs= 20 +3P

Find the following:

1- Find mathematically and graphically the Equilibrium price and Quantity?

2- If the price is 10 Riyal, what kind of surplus we will have and how much is it?

3- If the equilibrium price increased by one Riyal, what will be the quantity demanded?

Reference no: EM13861726

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