What are the equilibrium quantity
QD = 40-P and Qs = 1.0P-10What are the equilibrium quantity of price in the market?Equilibrium quantity = ?Equilibrium Price=?b. Determine the quantity demand, the quantity supplied and the magnitude of the surplus if a price floor is $35 is imposed in the this marketQuantity Demand: ?Quantity Supplied: ?Surplus ?C. Determine the quantity demanded, the quantity supplied and the magnitude of the shortage if the price ceiling is $20 is imposed in the market. Also, determine the full economic price paid by the consumers:Quantity demand: ?Quantity Supplied: ? Shortage: ?Full economic price$ ?
