Posted by
**Eric** on
.

The following relations describe the supply and demand for posters.

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?