# What is the equilibrium price using the supply and demand equations?

Refer to the fact pattern in the Text for Question No. 14 in Problems and Application of Chapter 2: Show more Refer to the fact pattern in the Text for Question No. 14 in Problems and Application of Chapter 2: Market Forces: Supply and Demand Supply and demand equations expressed as a function of price are QSX = 210 1.5P QDX = 2.5P 150 1. What is the equilibrium price using the supply and demand equations? 2. Express both supply and demand equations in the form P = f (QSX) and P = f (QDX) 3. Calculate the Prices to procure 0 pints 25 50 75 100 and 125 pints of blood 4. Calculate the Prices to sell 0 pints 25 50 75 100 and 125 pints of blood 5. Graph in EXCEL QSX and QDX using solutions to Parts 3 and 4 6. Graph a straight line where PX = \$90 at 0 pints 25 50 75 100 and 125 pints of blood 7. Calculate the consumer surplus (refer to Chapter 2 Demo Problem 5) 8. Calculate the produce surplus(refer to Chapter 2 Demo Problem 9) Show less