If the demand for a pair of shoes is given by 2p + 5q = 200 and the supply function for it is p − 2q = 10, compare the quantity demanded and the quantity supplied when the price is $70. quantity demanded     ?  pairs of shoes quantity supplied     ?  pairs of shoes Will there be a surplus or shortfall at this price? There will be a surplus or There will be a shortfall

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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If the demand for a pair of shoes is given by 2p + 5q = 200 and the supply function for it is p − 2q = 10, compare the quantity demanded and the quantity supplied when the price is $70.

quantity demanded     ?  pairs of shoes
quantity supplied     ?  pairs of shoes



Will there be a surplus or shortfall at this price?

There will be a surplus or There will be a shortfall
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