Ask your own question, for FREE!
Precalculus 19 Online
OpenStudy (anonymous):

suppose that the quantity supplied S and the quantity demanded D of hot dogs at a baseball game are given by the following functions S(p)=-5,000+2000p D(p)=15,000-3,000p Where p is the price of a hot dog in dollars. The equilibrium price of a market is defined as the price at which quantity supplied equals quantity demanded (S=D) what is the equilibrium price, quantity, and the prices for if the quantity demanded is higher than the quantity supplied ?

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!