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The demand for coffee is given by the following equation, where QD stands for the quantity demanded and P stands for price.
QD=100-4P
The supply of coffee is given by the following equation, where QS stands for the quantity supplied and P stands for price.
QS=10+2P
a. What is the slope of demand?
Slope =
b. At what price is quantity demanded equal to zero (this is, graphically, the vertical intercept of Demand)?
P =
c. What is the slope of supply?
d. At what price is quantity supplied equal to zero (this is, graphically, the vertical intercept of Supply)?
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