Use the followng information to answer the next four questions, Market for used surfboauds: Demand: Q- 84,900 - 360P Supply: Q.--10,100 + 140P What would be the equilibrium price for used surfboards? S190 O s250 O S210 O S270 O $230 Question 22 What woold be the equilbehum quantirty for used surboards O 11.100 O 15,700 O 12.300 O 16.500 O 14,900
Use the followng information to answer the next four questions, Market for used surfboauds: Demand: Q- 84,900 - 360P Supply: Q.--10,100 + 140P What would be the equilibrium price for used surfboards? S190 O s250 O S210 O S270 O $230 Question 22 What woold be the equilbehum quantirty for used surboards O 11.100 O 15,700 O 12.300 O 16.500 O 14,900
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
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![If a price ceiling is set at $200,
O the market price will be fixed at $200 and thus a shortage of 5,000 will persist.
the market price will be fixed at $200 and thus a surplus of 5,000 will persist.
the market price will eventually reach S190 but a sbortage of 5,000 will persist.
O the market price will eveatually reach S190 but a surplus of S.000 will persist.
the market price will eventually reach S190 and there will be no shortage or surplus.
Question 24
If a price floor is set at $200,
the macket price will be fixed at $200 and thus a shortage of 5,000 will persst.
O the macket price will be fixed at S200 and thas a surplus of 5,000 will persist.
O the aarket priee will eventually resch S190 but a shortage of 5.000 will persist.
O the maket price will eveatually reach S190 but a surphus of 5,000 will persist.
O the market price will eventually reach S190 and there will be no shortage of surplus.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fffbabd2a-04a8-4cf8-83d0-36999fd956af%2F4f031497-0495-45fe-ba8a-e719d5a74dfd%2F5reoj9q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If a price ceiling is set at $200,
O the market price will be fixed at $200 and thus a shortage of 5,000 will persist.
the market price will be fixed at $200 and thus a surplus of 5,000 will persist.
the market price will eventually reach S190 but a sbortage of 5,000 will persist.
O the market price will eveatually reach S190 but a surplus of S.000 will persist.
the market price will eventually reach S190 and there will be no shortage or surplus.
Question 24
If a price floor is set at $200,
the macket price will be fixed at $200 and thus a shortage of 5,000 will persst.
O the macket price will be fixed at S200 and thas a surplus of 5,000 will persist.
O the aarket priee will eventually resch S190 but a shortage of 5.000 will persist.
O the maket price will eveatually reach S190 but a surphus of 5,000 will persist.
O the market price will eventually reach S190 and there will be no shortage of surplus.
![Use the following information to answer the nert four questions,
Market for used surfboards:
Demand: Q4- 84,900-360P
Supply: Q.--10,100 + 140P
What would be the equilibrium price for used surfboards?
S190
O S250
O S210
O $270
O $230
Question 22
Wbat would be the equilibrium quantity for used suriboards
O 11.100
15,700
O 12.300
O 16.500
O 14,900](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fffbabd2a-04a8-4cf8-83d0-36999fd956af%2F4f031497-0495-45fe-ba8a-e719d5a74dfd%2F4vqsdx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following information to answer the nert four questions,
Market for used surfboards:
Demand: Q4- 84,900-360P
Supply: Q.--10,100 + 140P
What would be the equilibrium price for used surfboards?
S190
O S250
O S210
O $270
O $230
Question 22
Wbat would be the equilibrium quantity for used suriboards
O 11.100
15,700
O 12.300
O 16.500
O 14,900
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