Question: The demand for computers is represented by PD = 94 - 50 and the supply for computers is represented by P5 = 20 + 3.

The demand for computers is represented by PD = 94 -

The demand for computers is represented by PD = 94 - 50 and the supply for computers is represented by P5 = 20 + 3. Determine for each of the following prices if it is a price floor, price ceiling, or neither. For each price determine the quantity shortage or surplus. a) P = $59. Price ceiling/floor: Amount: 0 b) P = $19. Price ceiling/floor: Amount: 0

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