Microeconomics hw: Supply & Demand Curves/ Equilibrium?!?!?

Posted on 2014-04-04 10:48:00 in Economics by RUSH2112

Use the supply and demand curves to answer the following questions.

Qs = 200P - 300

Qd = 900 - 100P



a) how do I graph the supply and demand curves? can anyone tell me?







b) Calculate the equilibrium price ($/lb) and quantity traded (lbs).



c) Calculate consumer surplus at the market equilibrium.



d) Calculate producer surplus at the market equilibrium.



e) What is national welfare at the market equilibrium?

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