Unit 7-Market Intervention: Price Ceilings and Floors, Taxes Suppose that the demand curve for coffee is Q = 10 – P and the supply curve is Q = P. Draw the supply and demand curves below. 10 2 1 2 3 4...

I am confused about #1. I was wondering if the equilibrium is right along with the supply and demand curve

Extracted text: Unit 7-Market Intervention: Price Ceilings and Floors, Taxes Suppose that the demand curve for coffee is Q = 10 – P and the supply curve is Q = P. Draw the supply and demand curves below. 10 2 1 2 3 4 5 6 7 1. What is the equilibrium price and quantity? Equilibrium price: $5 Equilibrium quantity: 5