(a) Find the value of x, for which equilibrium ocursand the corresponding equilibrium price pe(b) Sketch the graphs of the supply and demandcurves, p = Sx) and p = D(x), on the same graph.(c) For what values of x is there a marketshortage? A market surplus?30. S(x) = 4x + 200 and D(x) - - 3x + 480

(a) Find the valae of x, for which equilibrium occars and the corresponding equilibrium price p. (b) Sketch the grapls of the supply and demand curves, p- Sx) and p- Dr, on the same graph (e) For what values of x is there a market shortage? A market surplus? . Sx)- 4x + 200 and D) - -r + 480

(a) Find the valae of x, for which equilibrium occars and the corresponding equilibrium price p. (b) Sketch the grapls of the supply and demand curves, p- Sx) and p- Dr, on the same graph (e) For what values of x is there a market shortage? A market surplus? . Sx)- 4x + 200 and D) - -r + 480

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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