If the demand for a pair of shoes is given by 2p + 59 = 300 and the supply function for it is p - 29 = 20, compare the quantity demanded and the quantity supplied when the price is $90. quantity demanded pairs of shoes quantity supplied pairs of shoes Will there be a surplus or shortfall at this price? O There will be a surplus. O There will be a shortfall.

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Polynomial And Rational Functions
Section9.4: Graphing Polynomial Functions
Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...
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If the demand for a pair of shoes is given by 2p + 5g = 300 and the supply function for it is p – 2g = 20, compare the quantity demanded and the quantity supplied when the price is $90.
quantity demanded
pairs of shoes
quantity supplied
pairs of shoes
Will there be a surplus or shortfall at this price?
O There will be a surplus.
O There will be a shortfall.
Transcribed Image Text:If the demand for a pair of shoes is given by 2p + 5g = 300 and the supply function for it is p – 2g = 20, compare the quantity demanded and the quantity supplied when the price is $90. quantity demanded pairs of shoes quantity supplied pairs of shoes Will there be a surplus or shortfall at this price? O There will be a surplus. O There will be a shortfall.
Expert Solution
Step 1

Here, the demand equation is 2p+5q=300 and the supply equation is p-2q=20.

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