Demand-supply analysis, An industry's supply and demand

Demand-supply analysis

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Reference no: EM131019289

Demand - Supply Analysis

An industry's supply and demand curves are given by the following equations:

Q_D = 2000 - 4P and Q_S = 6P

A. Determine the equilibrium price (P_E) and equilibrium quantity (Q_E).

B. At a price of $300, will there be a shortage or a surplus, and how large will it be?

C At a price of $100, will there be a shortage or a surplus, and how large will it be?

Reference no: EM131019289

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