provide analysis & computation The demand and supply for a whole pizza in Mr Hot's Market are given by theequations, Qd = 6,300 – 530P and Qs1,200 + 150P.a. If there exists a surplus of 150 units of whole pizza at what price does thismarket condition occur?b. What is the price and quantity equilibrium in Mr. Hot's pizza market?c. Suppose that because today is the customers' receiving of salary day, thenew demand changed to the equation Qdnew = 6,950 – 530P. What is the newprice and quantity equilibrium?d. In reference to problem c, at what price that the shortage of 100 units ofwhole pizza can occur?

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Answered: The demand and supply for a whole pizza…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 2WNG

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