Suppose demand can be described with the equation Q = 900 − 5P and supply with the equation Q = 100 + 5P.
A.Determine the equilibrium price and quantity.
B.Determine the surplus or shortage if the price were $100.

Question

Suppose demand can be described with the equation Q = 900 − 5P and supply with the equation Q = 100 + 5P. 
A.Determine the equilibrium price and quantity. 
B.Determine the surplus or shortage if the price were $100. 
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Quizplus · Accepted Answer

The Answer of Suppose demand can be described with the equation Q = 900 − 5P and supply with the equation Q = 100 + 5P. 
A.Determine the equilibrium price and quantity. 
B.Determine the surplus or shortage if the price were $100. 
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Suppose Demand Can Be Described with the Equation Q =