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1. Given the demand function: Qd = -4p + 50 and the supply function: Qs = 3p - 6
a. Mathematically solve for equilibrium price and quantity.
b. Graphically plot the resulting supply and demand model including all function intercepts and the values for equilibrium. (Note you will add to this graph in "c")
c. What if there was a change in technology that allowed for an increased supply producing at the function Qs = 3p + 8), add this change to your graph from "b" again noting the intercepts and equilibrium points.
(One graph total for the question, be careful on intercepts)
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