Answer to Question #51510 in Other Economics for Sohair

Question #51510
The following relations describe the supply and demand for posters. Qd = 65,000 – 10,000 P Qs = -35,000 + 15,000P Where Q is the quantity and P is the price of a poster, in dollars. a. Complete the following table. Price Qs Qd Surplus or Shortage $6.00 5.00 4.00 3.00 2.00 1.00 b. What is the equilibrium price?
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