Question: The supply function for certain product is p = 0 . 5 4 q + 1 2 , while the demand function is p =

The supply function for certain product is p=0.54q+12, while the demand function is p=-0.94q+127.44. Find the market equilibrium quantity and the market equilibrium price.
qe=
pe=
Suppose the price of the product is 50.12. Is there going to be a shortage or surplus?
The supply function for certain product is p = 0

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