6. [1.32/2 Points] DETAILS PREVIOUS ANSWERS WANEFMAC7 1.2.039. MY NOTES PRACTICE ANOTHER Equilibrium Price: Cell Phones . Worldwide quarterly sales of a brand of cell phones were approximately q = -p + 156 million phones when the wholesale price was $p. (a) If the cellphone company was prepared to supply q = 4p - 354 million phones per quarter at a wholesale price of $p, what would have been the equilibrium price? $ 102 (b) The actual wholesale price was $97 in the fourth quarter of 2004. Estimate the projected shortage or surplus at that price. There is an estimated |shortage of 35 x million phones. Need Help? Read It Watch It