Find out equilibrium price and output for the following market condition.

| November 24, 2016

Assignment-2 Econ-101

Q.NO.1:-Find out equilibrium price and output for the following market condition.

Demand function Qd=50-2P

Supply function Qs=3P

Q.NO.2:- Discuss a change in demand resulted in a change in the market price. Provide an example of how a change in supply resulted in a change in the market price. How does the price mechanism work to keep markets in equilibrium?

Note:

Assignments

Date of issue

Due date of submission from the students

1st

End of 2nd Week

End of 4th Week

2nd

End of 4th Week

End of 6th Week

You are required to follow these instructions as per the mentioned below:

1. Must to finish these assignments as per the due date, after due date no assignments will be graded.

2. All the instructors are now using plagiarism s/w so any issue found will be liable for strict action

3. NO copying will be entertained for the grades and those found guilty will be given ’0’ marks.

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