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Author Question: Consider a market characterized by the following demand and supply conditions: QD= 220 - p and QS= ... (Read 81 times)

haydenjmcm

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on: Oct 12, 2022

Question 1

Consider a market characterized by the following demand and supply conditions: QD = 220 - p and QS = 40 + 2p. The equilibrium quantity and price would then be
◦ Q = 220, p = 40.
◦ Q = 21, p = 49.
◦ Q = 160, p = 60.
◦ Q = 72, p = 63.
◦ Q = 60, p = 160.

Question 2

Consider a market characterized by the following demand and supply conditions: QD = 220 - p and QS = 40 + 2p. If the prevailing price on the market is $40, then
◦ the market is clearing.
◦ the market experiences a surplus of 220 units.
◦ the market experiences a shortage of 220 units.
◦ the market experiences a surplus of 60 units.
◦ the market experiences a shortage of 60 units.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by haydenjmcm on Oct 12, 2022

dude123

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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haydenjmcm

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

xoxo123

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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