5. Suppose that the demand equation is Qd = 230 - 3P and the supply equation is...

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5. Suppose that the demand equation is Qd = 230 - 3P and the supply equation is Qs = -10 + 9P.

a) If the price is 15, will there be a surplus or a shortage?

How much?

b) If the price is 22, will there be a surplus or a shortage?

How much?

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Principles Of Macroeconomics

ISBN: 9780226818399

8th Edition

Authors: Sayre, J.E.; Morris, A.J.

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Question Posted: Nov 11, 2024 01:00 AM

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5. Suppose that the demand equation is Qd = 230 - 3P and the supply equation is...

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Principles Of Macroeconomics

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