Consider the market for a good x.
a) Suppose that sons users do not buy any Good x at the price of $130, and for every $10 decrease in price, the quantity consumed increases by 20. write the equation for the demand curve of good x
b) Suppose that producers do not produce any of Good x at the price of $60,and for every $10 increase in price, the producers increase the quantity produced by 30. Write the equation for the supply curve for Good x
c) Find the equilibrium price and quantity
d) at what price does the market have a shortage of 40?
e) at what price does this market have a surplus of 60?