Suppose the demand for football tickets at a local college isQ = 70,000 - 500Pand the supply of tickets isQS = 25,000.The market equilibrium price is $ and the equilibrium quantity istickets. (Enter your responses as whole numbers.)

Equilibrium is measured at the point where demand in the market comes equal to the supply in the…

Suppose the demand for football tickets at a local college is Q=70,000-500P and the supply of tickets is Q³ =25,000. The market equilibrium price is $ and the equilibrium quantity is tickets. (Enter your responses as whole numbers.)

Suppose the demand for football tickets at a local college is Q=70,000-500P and the supply of tickets is Q³ =25,000. The market equilibrium price is $ and the equilibrium quantity is tickets. (Enter your responses as whole numbers.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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