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?© BrainMass Inc. brainmass.com June 3, 2020, 11:41 pm ad1c9bdddf
(2a) Plug in Qd = 0 and solve for P
0 = 3000 - 10P
P = 3000/10 = ...
The supply and demand and equilibrium price and quantity is examined. A complete, neat and step-by-step solution is provided.