Thursday

November 20, 2014

November 20, 2014

Posted by **ericca porch** on Tuesday, September 12, 2006 at 10:54am.

Qd=15-(3*P)

Qs=1+(4*P)

Also assume that, the equilibrium, Qd=Qs solve for equilibrium price by setting quanity demand equal to quanity supplied. what is the disequilibrim condition at prices of $150. $2.50.

I am having problems with this problem, please help

thank you

set 15-3P=1+4P. Solve for P (using algebra).

Plug in 1.5 for P in the supply and demand equations, What is Qd, what is Qs. Is there a surplus or shortage (hint: a shortage as quantity demanded exceeds quantity supplied). Repeat with 2.5 for P.

**Answer this Question**

**Related Questions**

economics - Assume that the equation for demand for bread at a small bakery is ...

weonomics - Original quanity | new quantity . |price. |quanity supplied demanded...

micro economics - 1) Assume that the gold-mining industry is competitive. a) ...

Finite Math - At a price of $ 1.94 per bushel, the supply corn in 9,800 million ...

economics - Assume Cliff and Paul were both producing wheat and corn, and each ...

Microeconomics - For each of the following situations for the egg market, ...

ecomonics - I am trying to understand the math part of supply and demand . I am ...

econ - Consider the market for trucks. Assume that the demand for trucks is ...

economics - Suppose the supply and demand for milk is described by the following...

economics - Suppose that there are two states that do not trade: Iowa and ...