2 If the market price is 150, solve for the quantily demanded hhd quan surplus? How much is the shortage or surplus? 3. If the market price is 250, solve for the quantity demanded and quantity supplied is there a surplus? How much is the shortage or surplus? 4 Suppose demand increases so thai the new demand function becomes Qd = 2200 - SP whl function does not change. It is still Qs = -500 + 4P. Compute for the aew equilibrium pe uilihrum pricn and eouilibrium quantity afler t

2 If the market price is 150, solve for the quantily demanded hhd quan surplus? How much is the shortage or surplus? 3. If the market price is 250, solve for the quantity demanded and quantity supplied is there a surplus? How much is the shortage or surplus? 4 Suppose demand increases so thai the new demand function becomes Qd = 2200 - SP whl function does not change. It is still Qs = -500 + 4P. Compute for the aew equilibrium pe uilihrum pricn and eouilibrium quantity afler t

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 2MC

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