Use the following demand and supply functions: Demand: $Q _ { d } = 900 - 60 p$ Supply: $Q _ { s } = - 200 + 50 \mathrm { P }$ If the price is currently $11,there is a

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To determine if there is a surplus or shortage, we calculate the quantity demanded and supplied at the given price of $11. For the demand: $Q_d = 900 - 60(11) = 900 - 660 = 240$. For the supply: $Q_s = -200 + 50(11) = -200 + 550 = 350$. Since $Q_s > Q_d$, there is a surplus of $350 - 240 = 110$ units.

Use the Following Demand and Supply Functions: Demand Qd=900−60pQ _ { d } = 900 - 60 pQd​=900−60p

Use the Following Demand and Supply Functions: Demand $Q _ { d } = 900 - 60 p$