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Question: just need help with s 5 and 6...

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PROBLEMS 1. Given the following demand schedule of a 4. (a) Derive the supply schedule from the following commodity supply function: P(S) 65 4 3 2 0 (b) Derive the supply schedule from the following supply function: OD 010 20 30 40 50 60 Qs 20 + 10P Show that by substituting the prices given in the table into the following demand equation or function, you obtain the corresponding quantities demanded given in the table: (c) On the same graph, plot the supply schedule of part (a) and label it S and the supply curve of part (b) and label it S (d) What could have caused S to shift to S? QD 60 10P Derive the demand schedule from the following *5. (a) Construct a table similar to Table 2-3 in the text giving the supply schedule of Problem 4(a) and the demand schedule of Problem 1. In the same table identify the equilibrium price and quantity of the commodity, the surplus or shortage at prices other than the equilibrium price, and the pressure on price with a surplus or a shortage. (b) Show your results of part (a) graphically demand function: QD 80- 10P 3. On the same graph, plot the demand schedule of Problem 1 and label it D and the demand curve of Poolem 2 and label it D. Does Drepresent an in rease in demand or an increase in the quantity 6. Using the demand function of Problem 1 and the supply function of Problem 4(a), determine the equilibrium price and quantity algebraically. demanded? Why?Just need help with #'s 5 and 6

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