Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Excess supply question! Economics!?
Assume the following equations represent market demand and supply of a commodity at the retail level.
Demand: Q= 45-5p
Supply: Q= 25+3p
Where Q and P represent quantity and price per unit, respectively, for this product.
(a) What is the algebraic expression that would represent the excess supply schedule for this market?
(b) What is the range of prices for which there is a positive excess supply in this market?
2 Answers
- Anonymous3 years ago
When price is higher than 2.5,it will be an excess supply.
