Question

Humaira Torwarded a message9. Consider the market forsewing machine. The demandfor sewing machine isrepresented bythe equation: P = 110 - 20QDand the supply of sewingmachine is represented by theequation:P = 10 + 5QS.a) Calculate the equilibriumprice and quantity of sewingmachine.b) If the market price becomes$45, what will happen todemand and supply of sewingmachinesin the market?​

Answer 1

Answer:

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