Supply and demand1 supply and demand for a given type of, Ask an Expert

Economics

Supply and Demand

1. Supply and demand for a given type of MP3 player are given by the following equations.

P = 980 −1.5Qd P = 20 + 0.9Qs

a. Calculate equilibrium quantity?

b. Calculate equilibrium price?

c. Graph the supply and demand curves, show equilibrium and any positive intercepts, and calculate consumer surplus and producer surplus.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92197412

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