Question: Assume a demand equation: Qd = 9 - 0.1p - Pc + 0.017s + 0.0001Y and a supply equation: Qs = 0.1 -0.02p; + 0.01N

Assume a demand equation: Qd = 9 - 0.1p - Pc + 0.017s + 0.0001Y and a supply equation: Qs = 0.1 -0.02p; + 0.01N + 0.01T - 0.1w where p = price of the good Q = quantity in thousands of units Pe price of a complement = $3 P, - price of an input = $450 Ps-price of a substitute = $200 N-number of firms - 700 Y = consumer Income = $60,000 T = index of technology = 300 w = wage rate = $30 If the price is $85, there will be an of thousand units

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