1) Market for Flat-Screen TVs: Demand: Qd = 2,600-5P Supply: Qs = 1000 + 10P What would be the amount of shortage if a price celling is imposed at price of $170?   2) Suppose in the market for banana. When the price is $5, the quantity demanded for banana is 6, and the quantity supplied is 10. what's the amount of surplus in the market?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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1) Market for Flat-Screen TVs:

Demand: Qd = 2,600-5P

Supply: Qs = 1000 + 10P

What would be the amount of shortage if a price celling is imposed at price of $170?

 

2) Suppose in the market for banana. When the price is $5, the quantity demanded for banana is 6, and the quantity supplied is 10.

what's the amount of surplus in the market?

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