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In: Advanced Math

The demand equation for a computer desk is p = −4x + 290,  and the supply equation...

The demand equation for a computer desk is p = −4x + 290,  and the supply equation is p = 3x + 80.

(b) Find the equilibrium quantity x and price p. (Round your answers to one decimal place.)

(x, p) =

(c) Find the price at which the buyer stops buying.
$

(d) Find the price at which the supplier stops supplying.
$

(e) Is there a shortage or surplus when the price is $110? How much?

(f) Is there a shortage or surplus when the price is $206? How much?

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Expert Solution

Colby Messinger answered 1 year ago
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