What is the amount of this shortage or surplus

Assignment Help Business Economics

Reference no: EM131002453

Demand: Qd = 400 - 3P

Supply: Qs = -100 + 2P

A) What are equilibrium price and quantity?

B) Suppose actual prie is $92, What is quantity and supply demanded at this price?

C) At price of $92, wil there be a shortage or surplus?

D) What is the amount of this shortage or surplus?

E) Over time, do you expect prices to rise or fall?

Reference no: EM131002453

Questions Cloud

The population is normally distributed : For each of the following situations, find an interval that contains (approximately or exactly) 99.73 percent of all the possible sample means. In which cases must we assume that the population is normally distributed? Why?

The are seeds alive lab : What is a conclusion paragraph for the are seeds alive lab

Importance of strategic thinking : With this organization in mind, describe how strategic thinking could lead to the identification of opportunities for this organization to gain a competitive edge in the industry. Provide at least one example that demonstrates the importance of "..

What is an enzyme? what is mitosis : What is an enzyme? What is mitosis? What is the aerobic process?

What is the amount of this shortage or surplus : What are equilibrium price and quantity? Suppose actual prie is $92, What is quantity and supply demanded at this price? At price of $92, wil there be a shortage or surplus? What is the amount of this shortage or surplus?

Problem regarding the current performance level : To be considered an elite place kicker, the success rate from this distance (D ≤ 55) needs to improve to at least 0.9. Determine the probability that this particular place kicker achieves elite status in any season, assuming that he maintains ..

What are the two special rights : Terminology varies in the way companies differentiate among share types. But many corporations designate shares as common or preferred. What are the two special rights usually given to preferred shareholders?

What would be the effective interest rate of your investment : You bought a GMC bond for $50,000 on August 1, 2003, which redeems at par value on July 31, 2009. The stated bond rate is 6% per year and the interests are compounded (paid) monthly. You have received 15 payments and you need (MUST) to sell the bond ..

How much percent of water and oxygen : How much percent of water and oxygen is there on planet earth?

User Account

All Pages