Question
The demand for pizza is represented by P D = 79 - 3Q and the supply for pizza is represented by P S = 2Q
The demand for pizza is represented by PD= 79 - 3Q and the supply for pizza is represented by PS= 2Q + 4. Determine for each of the following prices if it is a price floor, price ceiling, or neither. For each price determine the quantity shortage or surplus.
a)P = $40.
price celiling/floor=
surplus/shortage=
Amount=
b)P = $46.
price celiling/floor=
surplus/shortage=
Amount=
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Global Business Today
Authors: Charles Hill
9th Edition
1259299201, 9781259299209
