The following relations describe monthly demand and supply for a computer support service to small businesses: Qd=3000-10P Qs=-1000+10P whrer Q is the number of businesses that need services and P is the monthly fee, in dollars. a. at what average monthly fee would demand equal zero? b. at what average monthly fee would supply equal zero? c. plot the supply and demand curves. d. what is the equilibrium price/output level? e. Suppose demand increases and leads to a new demand curve: Qd = 3500 - 10P f. Suppose new suppliers enter the market due to the increase in demand so the new suply curve is Q=-500+10P. What are the new equilibrium price and equilibrium quantity? g. Show changes on the graph.
The following relations describe monthly demand and supply for a computer support service to small businesses:
Qd=3000-10P
Qs=-1000+10P
whrer Q is the number of businesses that need services and P is the monthly fee, in dollars.
a. at what average monthly fee would demand equal zero?
b. at what average monthly fee would supply equal zero?
c. plot the supply and demand curves.
d. what is the
e. Suppose demand increases and leads to a new demand curve:
Qd = 3500 - 10P
f. Suppose new suppliers enter the market due to the increase in demand so the new suply curve is Q=-500+10P. What are the new equilibrium price and
g. Show changes on the graph.
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