(a) Using the schedules given, determine the demand equation and the supply equation. 
(b) What is the intercept of the demand equation? What is the slope of the demand equation?
(c) What is the intercept of the supply equation? What is the slope of the supply equation?
(d) What is the equilibrium price and quantity?
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An agreement or contract that is enforceable by law.
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An unwritten agreement that outlines mutual expectations, obligations, and benefits between employers and employees, beyond formal contracts.
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