An economist estimates thata market has a demand curve of the form P = 34 - (1.13) Q and a supply curve of the form P= 8.5 + (1.02) Q. (See the curves graphed in the figure below.) By her estimations, if the price in the market is currently at then there should be a shortage on the market of units. Supply Demand
An economist estimates thata market has a demand curve of the form P = 34 - (1.13) Q and a supply curve of the form P= 8.5 + (1.02) Q. (See the curves graphed in the figure below.) By her estimations, if the price in the market is currently at then there should be a shortage on the market of units. Supply Demand
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 15SQ
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Q16
Transcribed Image Text:An economist estimates that a market has a demand curve of the form P = 34 - (1.13) Q and a supply curve of the form P = 8.5 + (1.02) Q. (See the curves graphed in the figure below.) By her estimations, if the price in the
market is currently at, then there should be a shortage on the market of_units.
Supply
Pe
Demand
O A. $12.10; 15.85
O B. $20.6; 17.54
OC $30.00 ; 11.86
O D. $9.00; 7.52
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