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    Supply and Demand

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    Qd= 317500-10000P

    Qs= 2500+7500P
    Q is pounds of scrap and P is in cents
    15cents
    16 cents
    17 cents
    18 cents
    19 cents
    20 cents

    Need to complete the following for each Price

    Price(1) Qs(2) Qd (3) surplus (+) or Shortage) (4=2-3)
    15
    16
    17
    18
    19
    20

    © BrainMass Inc. brainmass.com October 10, 2019, 3:50 am ad1c9bdddf
    https://brainmass.com/economics/demand-supply/supply-demand-437286

    Solution Summary

    The solution does a great job of answering the question. The solution is brief and concise and very easy to follow along. All the steps are clearly shown and Excel formulas are provided so that the student can answer similar questions in the future. It can be easily understood by anyone with a basic understanding of the topic. Overall, an excellent solution.

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