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Unit 3 Assignment: Suppose you have a demand curve that takes the form: P= 24 - 3Q and a supply curve that takes the form: P

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fod equilibrium- (Derrard & Supply) 24-30 = 30 24 260 (o=4]- equilibinm quonity P = 30 = 3x4 TP $12 ) equilibrium brice PC21Now Conamer Area of triangle ABD Surplus - chy xb we x height = 12 x 4 600x124-12) = 2x12 les =$24] Ps= Area of tringle Boc -When p=815 Supply = Q = / = 15/3 r = 5 30=24-P Q = 24P = 24-815 doord 2 So Surplusz 5-3 = 2units When price Ceiling of $6 is

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