Subjects economics

Price Analysis

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Price Analysis


1. **State the problem:** We need to find the quantity demanded ($Q_d$), quantity supplied ($Q_s$), and determine if the price $6$ causes a surplus or shortage. 2. **Assume demand and supply functions:** Since not provided, let's assume typical linear forms: - Demand: $Q_d = a - bP$ - Supply: $Q_s = c + dP$ 3. **Substitute $P=6$ into both functions:** - $Q_d = a - b \times 6$ - $Q_s = c + d \times 6$ 4. **Determine surplus or shortage:** - If $Q_s > Q_d$, surplus exists. - If $Q_d > Q_s$, shortage exists. 5. **Without specific functions, we cannot compute exact values.** **Please provide the demand and supply equations to proceed with calculations.**