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Suppose the demand for jackets was given by: Qp= 190 -0.2P. The supply of jackets is given by: Qs= 2P-30. Suppose ti price was $4
Suppose the demand for jackets was given by: Qp= 190 -0.2P. The supply of jackets is given by: Qs= 2P-30. Suppose ti price was $4 per jacket. Calculate whether there is a surplus or shortage of jackets at that price and the quantity of jack associated with the surplus or shortage. Enter your response as Qs - Qp. Negative numbers indicate shortage. Positive numbers indicate surplus. (Round to the nearest two decimal places if necessary.)
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