question 3

Project Description:

the following relations describe the supply and demand for posters.

qd=65,000 - 10,000 p
qs= -35,000 + 15,000 p
where q is the quantity and p is the price of a poster, in dollars.

a) complete the following table

price qs qd surplus or shortage
________________________________________________

$6,000
5.00
4.00
3.00
2.00
1.00

b) what is the equilibrium price?
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Price Type: Negotiable

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