Whether shortage or surplus

Reference no: EM13175845

In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in
a. a shortage of 80 units
b. a shortage of 44 units
c. a surplus of 26 units

d. neither a shortage nor a surplus

Reference no: EM13175845

Questions Cloud

What is the molecular formula of a compound : what is the molecular formula of a compound that contains 28.2% of potassium ,25.6% of chlorine and 46.2% of oxygen ? the molar mass is 138.5u.

How many mail delivery vehicles does the usps have : For every penny that the price of gasoline goes up, the U.S Postal (USPS) service experiences a monthly fuel cost increase of $8 million. State what assumptions you need to make to answer this question

What is the value of the equilibrium constant keq : At equilibrium, the concentration of A is 0.381 M and that of B is 0.154 M. What is the value of the equilibrium constant, Keq?

What is the initial ecell : A voltaic cell consists of Mn/Mn2+ and Cd/Cd2+ half-cells containing equal volumes of solutions with the following initial concentrations: [Mn2+] = 0.090 M; [Cd2+] = 0.073 M.

Whether shortage or surplus : In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units

Problems of middle eastern political systems : What does Kenneth Pollack believe are the principal problems of Middle Eastern political systems?

How many possible trisubstituted derivatives : how many possible trisubstituted derivatives c6h3x2y can be obtained from the meta disubstituted benzene c6h4x2? (ignore directive effects of the substituents x and assume that all positions on the ring are accessible to the reagent y+).

Feasibility of producing organically grown dasheen leaves : Discuss the Feasibility of producing organically grown dasheen(Taro) leaves. Discuss the Management of the food safety risk in the cassava industry. How does cassava production aids in food security?

Determine equilibrium price : Suppose market demand and supply are given by Qd = 300 - 4P and QS = -50 + 3P. The equilibrium price is: a $35. b $40. c $50. d $60.

User Account

All Pages