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-   -   The demand for aluminum is given by the equation Ed=500-5p+10i while the supply curve (https://www.askmehelpdesk.com/showthread.php?t=598230)

  • Sep 21, 2011, 07:12 AM
    allen3377
    The demand for aluminum is given by the equation Ed=500-5p+10i while the supply curve
    The demand for aluminum is given by the equation Ed=500-5p+10i while the supply curve is given by the equation Q's=-400+50p. In both equations p denotes the market price and I denotes income.
    A for what price is the market in equilibrium whine=10
    B. What is the equilibrium quantity when I=10
    C. Assume that the average income of consumers has fallen to 5 for what price is the market in equilibrium when I=5
    D. What is the equilibrium quantity when I=5 or when the consumer average income falls
    E. Depict your results graphically. You will need two graphs, one when I=5 and one when=10
  • Sep 21, 2011, 07:13 AM
    Curlyben
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