Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where p is the price.
S (p) = -200+40p
D (p) = 1150-50 p.
a. Find the equilibrium price for the T-shirts at this concert. The equilibrium price is
b. Determine the prices for which quantity demanded is greater than quantity supplied.
c. What will eventually happen to the price of the T-shirts if the quantity demanded is greater than the quantity supplied?
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Home » Mathematics » Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where p is the price. S (p) = -200+40p D (p) = 1150-50 p. a. Find the equilibrium price for the T-shirts at this concert.