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aaliyahnv07
13.12.2019 •
Business
If the demand function is qd = 600 – 50p, and the supply function is qs = –400 + 150p, calculate the shortage or surplus at a price of $4. typing only the words shortage or surplus is insufficient, you also need to enter the size of the shortage or surplus.
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Ответ:
There will be a shortage of 200 units at price of $4.
Explanation:
The demand function is given as,
Qd = 600 – 50P.
The supply function is given as,
Qs = –400 + 150P
The equilibrium price will be where both quantity demanded and quantity supplied will be equal.
Qd = Qs
600 – 50P = –400 + 150P
1000 = 200P
P = $5
Putting the value in demand function
Qd = 600 – 50 × 5
Q = 350
The equilibrium quantity is 350 units.
At price $4, the quantity supplied will be,
= –400 + 150 × 4
= 200
The quantity demanded will be
= 600 – 50 × 4
= 400
The quantity demanded is greater than the quantity supplied. This implies that there is a shortage in the market.
The shortage in the market will be
= Qd - Qs
= 400 - 200
= 200
There is a shortage of 200 units.
Ответ:
24
Explanation:
The number of possible combinations are 2 (colors) x 3 (designs) x 4 (sizes) = 24 possible combinations.
A combination is defined as the how the parts or components of an object are being selected, in this case you can select the t-shirts based on color 1 and color 2. Then each color can be selected with design 1, 2 or 3. Finally, you have to decide which size fits you.