Suppose that the demand and supply curve for a swimming suits are describe by the following equations
Qd=120-2P
Qs= 60+p
Where Q is the quantity in the units and P is the price in the dollars.
Compute the compitieve equilibrium price and quantity. Illustrate a draft of supply and demand curves. Discuss the total value created in the market for swimming suits, if total value is in this market is equal to total surplus.