The demand functions for the product Qd = 27-3P and the supply function Qs = -9 + 6P determine

The demand functions for the product Qd = 27-3P and the supply function Qs = -9 + 6P determine a) the equilibrium price b) Graph c) the equilibrium volume d) the equilibrium volume of sales in monetary terms What happens if the state sets a fixed price for the good at level 3 units and 6 units?

We are given the demand function for the product Qd = 27-3P and the supply function Qs = -9 + 6P. To find the equilibrium price, you need to equate two functions. -9 + 6P = 27-3P. It turns out that 9P = 36, P = 4. Then you can find the equilibrium volume by substituting the price into one of the functions. 27-12 = 15. Q = 15.