The following relations describe the supply and demand for posters. Qd = 65,000 – 10,000 P Qs = -35,000 + 15,000P

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?
Read answer

find the cost of your paper