## Related questions with answers

Question

If the demand function and supply function for Z-brand juicers are $p+2 q=100$ and $35 p-20 q=350$, respectively, compare the quantity demanded and the quantity supplied when $p=14$. Are there surplus juicers or not enough to meet demand?

Solution

VerifiedAnswered 2 years ago

Answered 2 years ago

Step 1

1 of 4We have,

Demand function:

$p+2q=100\tag{1}$

Supply function:

$35p-20q=350\tag{2}$

where, $p=$ price $q=$ quantity

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