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

Name: Market demand is given as Qd = 300 - 0.5P. Market supply is given as Qs = 50 + 2P. What would result if the market price were $140?
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At a price of $140, the quantity demanded (Qd) would be 300 - 0.5(140) = 230, and the quantity supplied (Qs) would be 50 + 2(140) = 330. The difference between Qs and Qd is 330 - 230 = 100, indicating a surplus of 100.

Market Demand Is Given as Qd = 300 - 0