If the demand curve is P=12.4-4Qd and the supply curve is P=-2.6+2Qs, What is the equilibrium price? What is the equilibrium quantity?

At equilibrium, Pd (price demand) = Ps (price supply), and that Qd=Qs. So,

12.4-4Q=-2.6+2Q. Solve for Q:
15.0-4Q= 2Q
15.0 = 6Q
(15/6) = Q

plug this Q into one of the original equations to get equilibrium P

4) From October 1994 to march 1995, the price of cotton increased from $0.65 to over $1 per pound, the highest level since civil war. According to business week, ‘supplies have dwindled because of poor crops in china, india, and Pakistan. At the same time, consumers, underred by rising costs, have pumped up demand for cotton-rich casual clothing, as well as home furnishings made from cotton.’ (a) was this price increase due to shift in the demand curve for cotton, a shift in the supply curve for cotton, or both. (b)Did this price increase affect the supply curve for clothing? If so, how?

To find the equilibrium price and quantity, we need to set the demand equal to the supply and solve for the values of price (P) and quantity (Q) where the two curves intersect.

Given:

Demand curve: P = 12.4 - 4Qd
Supply curve: P = -2.6 + 2Qs

Setting the two equations equal to each other, we have:

12.4 - 4Qd = -2.6 + 2Qs

To solve for Q, we can isolate it on one side of the equation. Rearranging the equation:

4Qd + 2Qs = 12.4 + 2.6

Now, let's focus on the equation above. We need to know the quantities demanded and supplied to calculate the equilibrium price and quantity. Unfortunately, we don't have that information. To find the equilibrium point, we need additional data on either the quantity demanded or the quantity supplied.

Please provide the quantities demanded or supplied, or any additional information, so we can calculate the equilibrium price and quantity.