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02-08-2024
Business

Answered

Suppose that the supply function for a commodity is given by the equation: p = q² + 2q + 20.
(a) If the price is $595, how many units will be supplied?

(b) Suppose that 15 units are demanded at a price of $595. Using your answer to part a, would such a price result in a shortage or surplus? Explain your answer in a complete sentence.

Answer :

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