Order the answer to: Suppose demand and supply are given by Qd = 50

Academic Help business economics Order the answer to: Suppose demand and supply are given by Qd = 50

business economics

Order the answer to: Suppose demand and supply are given by Qd = 50

Question Suppose demand and supply are given by Qd = 50 – P and Qs = ½ P – 10. a. What are the equilibrium quantity and price in this market? b. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $42 is imposed in this market. c. Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $30 is imposed in this market. Also, determine the full economic price paid by consumers.
Subject business economics
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