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29 Mar 2018
Assume the market for Florida oranges is in equilibrium.
Demand is represented by Qd = 60 - 2P
Supply is represented by Qs = 10 + 3P
where the quantity is in thousands of pounds.
If a hurricane strikes Florida, and destroys 20 thousand pounds of oranges, what will the new equilibrium price and quantity be?
Assume the market for Florida oranges is in equilibrium.
Demand is represented by Qd = 60 - 2P
Supply is represented by Qs = 10 + 3P
where the quantity is in thousands of pounds.
If a hurricane strikes Florida, and destroys 20 thousand pounds of oranges, what will the new equilibrium price and quantity be?
Jean KeelingLv2
31 Mar 2018
