Demand and supply a) Q=15+7P Q = 35 - 5P From this information, find the equilibrium price and put the information on a graph

Economics Oct 14, 2020

Demand and supply a) Q=15+7P Q = 35 - 5P From this information, find the equilibrium price and put the information on a graph. [3] b) Find an event in the news (weather, Covid, government policy, sports, fashion, tech development etc.) that will shift the supply curve for a good or service. Show the effect of this change on a graph and explain how the market will reach a new equilibrium. What will the model predict about price and output?

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