The following relations describe the supply and demand for posters. QD = 65,000 - 10,000P QS =
Question:
QD = 65,000 - 10,000P
QS = - 35,000 + 15.000P
where Q is the quantity and P is die price of a poster, in dollars.
a. Complete the following table.
b. What is the equilibrium price?
Transcribed Image Text:
Price Surplus or Shortage $6.00 5.00 4.00 2.00 1.00
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a Surplus or Price Q S Q D Shortage 600 55000 50...View the full answer
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Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
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