Given the market model: Qd=100-10P

Qs=60+40P
1. Solve for Qd and Qs if P=1, P=2.00, P=3.00, P=4.00, P=5.00,
and P=6.00. Make a schedule.
1. Plot the demand and supply curves, using the schedule
2. Locate and label the equilibrium price and quantity in the graph
3. Solve for the equilibrium price and quantity by equating Qd and
Qs
4. Show the market shortage in the graph if the prevailing market
price equals php2.00
5. Show the market surplus in the graph if the prevailing market
price equals php6.00