Given two substitute goods (X and Y) with demand and supply function; Qd = 7p - 12 Qs = 4p + 9 Find the magnitude of excess demand when p = ₦18

Question 1 Report

Given two substitute goods (X and Y) with demand and supply function;

Qd = 7p - 12

Qs = 4p + 9

Find the magnitude of excess demand when p = ₦18