Pesticide Services. The market for pesticide services per hour is competitive. The market supply and demand...

Pesticide Services. The market for pesticide services per hour is competitive. The market supply and demand functions are given respectively by P = 20 + 0.5Q_S and Q_D = 620 - 10P.

What is the minimum amount suppliers would need to receive before supplying any hourly pesticide services? If these services were free, how many would be demanded per hour?

What is the equilibrium market price and quantity of pesticide services provided per hour? Provide a graph of the market equilibrium (include intercepts)

Expert Solution

Rahul Sunny answered 8 months ago

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