Question: Suppose that the quantity supplied S and quantity demanded D ofT-shirts at a concert are given by the following functions where p is the price.

Suppose that the quantity supplied S and quantity demanded D ofT-shirts at a concert are given by the following functions where p is the price.

S(p)=210+70p

D(p)=1150100p

Answer parts (a) through (c).

A. Equilibrium Price/Equilibrium Quantity

B.Price for which quantity demanded is greater than quantity supplied

C. What will eventually happen to the price of the shirts if the quantity demanded is greater than the quantity supplied

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