Question
Each of the following presents the equilibrium point for a given market. Using the information given state if there is a shortage or surplus in
Each of the following presents the equilibrium point for a given market. Using the information given state if there is a shortage or surplus in the market.
QD= 174 – 6P QS= 4+4P What happens at a price of P = $22
2. QD= 98 – 4P QS= -4 + 2P What happens at a price of P = $23
3. QD= 308 – 2P QS= 8 + 8P What happens at a price of P = $18
4. QD= 166 – 5P QS= 1 + 6P What happens at a price of P = $18
5. QD= 302 – 5P QS= 2 + 5P What happens at a price of P = $12
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
