Author Question: Consider a market characterized by the following demand and supply conditions: QD= 200 - 3p and QS= ... (Read 36 times)

sbegs · **on:** Oct 12, 2022

Question 1

Consider a market characterized by the following demand and supply conditions: QD = 200 - 3p and QS = 100 + 2p. The equilibrium quantity and price would then be
◦ Q = 21, p = 49.
◦ Q = 60, p = 160.
◦ Q = 72, p = 63.
◦ Q = 220, p = 40.
◦ Q = 140, p = 20.

Question 2

Consider a market characterized by the following demand and supply conditions: QD = 200 - 3p and QS = 100 + 2p. If the prevailing price on the market is $15, then
◦ the market is clearing.
◦ the market experiences a shortage of 25 units.
◦ the market experiences a surplus of 200 units.
◦ the market experiences a shortage of 200 units.
◦ the market experiences a surplus of 25 units.

koung719 · **Reply #1 on:** Oct 12, 2022

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