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Answer to Question #69777 in Microeconomics for abdulkadir abdi
Question #69777
7. The following relations describe the supply and demand for specific good:
QD = 65000 – 10000P
QS = - 35000 + 15000P
a) Compute the following table
Price QS QD Surplus pr Shortage
$7
$6
$5
$4
$3
$2
a) What is the equilibrium price?
QD = 65000 – 10000P
QS = - 35000 + 15000P
a) Compute the following table
Price QS QD Surplus pr Shortage
$7
$6
$5
$4
$3
$2
a) What is the equilibrium price?
Expert's answer
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