Assignment Help - homework help

Industry supply and demand are given by qd 1000 - 2p and


Industry supply and demand are given by QD = 1000 - 2P and QS = 3P.

a. What is the equilibrium price and quantity?

b. At a price of $100, will there be a shortage or a surplus, and how large will it be?

c. At a price of $300, will there be a shortage or a surplus, and how large will it be?

Solution Preview :

Prepared by a verified Expert
Business Economics: Industry supply and demand are given by qd 1000 - 2p and
Reference No:- TGS02944947

Now Priced at $15 (50% Discount)

Recommended (95%)

Rated (4.7/5)