What is the equilibrium price for posters, Microeconomics

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What is the equilibrium price for posters

The following relations describe the supply and demand for posters.

QD = 65,000 - 10,000P
QS = -35,000 + 15,000P

Where Q is the quantity and P is the price of a poster, in dollars.

a. Complete the following table.

PRICE QS QD SURPLUS OR
SHORTAGE
$6.00
5.00
4.00
3.00
2.00
1.00

b. What is the equilibrium price?

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Microeconomics: What is the equilibrium price for posters

Reference No:- TGS072454

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What is the equilibrium price for posters

Reference No:- TGS072454

Recent Questions Asked Microeconomics

Q : Determine the effect of the purchase

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Q : What is the equilibrium price for posters

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