The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum QD
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The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum
QD = 317,500 - 10,000P(Demand)
QS = 2,500 + 7,500P,(Supply)
Where Q is quantity measured in pounds of scrap aluminum and P is price in cents.
Complete the followingtable:
Transcribed Image Text:
Price Quantity Quantity Surplus (+) or (1) Supplied Demanded Shortage Θ 15¢ 16 17 18 19 20
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