The following relations describe the supply and demand for posters. QD = 65,000 - 10,000P QS =

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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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Managerial Economics Economic Tools For Today's Decision Makers

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Question Posted: Oct 05, 2024 07:00 AM

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The following relations describe the supply and demand for posters. QD = 65,000 - 10,000P QS =

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Managerial Economics Economic Tools For Today's Decision Makers

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