Suppose That the Market Demand and Supply Curves for Chocolate

question 88

Essay

Suppose that the market demand and supply curves for chocolate ice cream are represented by the following equations:
Q^D = 10,000 - 50P
Q^S = -200 + 40P
where Q^D is the quantity demanded, Q^S is the quantity supplied, and P is the price.
a. Show that the law of demand holds using calculus.
b. Show that the law of supply holds using calculus.