Suppose that a market analysis shows that the demand
and supply equations for the market are as follows: Qd=120-4P;
Qs=6P. Find the equilibrium price and quantity in this market. Now,
using graph paper, plot the demand and supply curves carefully and
verify that the curves intersect at the equilibrium price and
quantity that you found. On your graph, be sure to label your axes
and clearly indicate the quantity and price intercept values.
(Graph paper is required for this problem;...