Supply and demand – Equilibrium Price and Quantity
The following relation describes the monthly demand and
supply for a computer support service, catering to small businesses:
Qd = 3,000 – 10P
Qs = -1000 + 10P
2a) At what average monthly fee would demand equal zero?
2b) At what average monthly fee would supply equal zero?
2c) What are the equilibrium price and equilibrium quantity?
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