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supply and demand both are the function of price (as law of demand and law of supply stated). also price has positive impact on supply and negative impact on demand.
supply=f(p)
demand=f(p)
so by having the idea of laws of demand and supply
demand equation can be written as:
D=a-bp ; a=intercept , b=slope
and supply equation can be written as:
S=c+dp ;c=intercept , d=slope
these equations can only be true if all other things remain same
otherwise we have to include others factors causing change in demand and supply.
like income,prefferences,taste,advertisement cost,weather etc for demand
and price of resourses(land,labor,capital,row meterial),management skill,technology,marketing,production techniques expectations etc for supply
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