2. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum Qn = 302,500 - 10,000P (Demand) Qs = 2,500 +5,00OP, (Supply) where Q is quantity measured in pounds of scrap aluminum and P is price in cents. a. If price is 15c, what are the quantity supplied and quantity demanded? Is there any surplusor shortage? How much is the surplus/shortage? b. If price is 25¢, what are the quantity supplied and quantity demanded? Is there anysurplus or shortage? How much is the surplus/shortage?
2. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum Qn = 302,500 - 10,000P (Demand) Qs = 2,500 +5,00OP, (Supply) where Q is quantity measured in pounds of scrap aluminum and P is price in cents. a. If price is 15c, what are the quantity supplied and quantity demanded? Is there any surplusor shortage? How much is the surplus/shortage? b. If price is 25¢, what are the quantity supplied and quantity demanded? Is there anysurplus or shortage? How much is the surplus/shortage?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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2. The following relations describe monthly demand and supply conditions in the
metropolitan area for recyclable aluminum
QD = 302,500 - 10,000P (Demand)
Qs = 2,500 +5,000P, (Supply)
where Q is quantity measured in pounds of scrap aluminum and P is price in cents.
a. If price is 15¢, what are the quantity supplied and quantity demanded? Is there any surplusor
shortage? How much is the surplus/shortage?
b. If price is 25¢, what are the quantity supplied and quantity demanded? Is there anysurplus or
shortage? How much is the surplus/shortage?
tes)
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