Market demand is given as Q_D= 300 - 0.5P.Market supply is given as Q_S= 50 + 2P.What would result if the market price were $140

Name: Market demand is given as Q D = 300 - 0.5P.Market supply is given as Q S = 50 + 2P.What would result if the market price were $140
Brand: Quizplus
Rating: 4.9 (58 reviews)

Question

Quizplus · Accepted Answer

At a price of $140, Q_D = 300 - 0.5(140) = 230 and Q_S = 50 + 2(140) = 330. Since supply (330) is greater than demand (230), there is a surplus of 100 units.

Market Demand Is Given as QD = 300 - 0

Market Demand Is Given as Q_D= 300 - 0