Mathematics, 20.09.2019 23:00, jmsmith1218

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 ?

Answers: 1

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Suppose that the quantity supplied s and the quantity demanded d of hot dogs at a baseball game are...