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October 24, 2014

October 24, 2014

Posted by **Eric** on Monday, October 8, 2007 at 3:01pm.

Qd = 65,000 – 10,000 P

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?

- Managerial Economics -
**economyst**, Tuesday, October 9, 2007 at 8:43amUse algebra then take a shot.

Hint: a surplus occurs when Qs>Qd, a shortage occurs when Qs<Qd, and equilibrium is when Qs=Qd. Plug the various prices into P and solve.

- Managerial Economics -
**hyla**, Saturday, July 5, 2008 at 3:48am3.oo

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