Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where

Question

Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where p is the price.
S(p)=-340+ 40p
D(p) = 1100-50p
Answer parts (a) through (c).
(a) Find the equilibrium price for the T-shirts at this concert.
The equilibrium price is $16 (Round to the nearest dollar as needed.)
What is the equilibrium quantity?
The equilibrium quantity is 300 T-shirts.
(Type a whole number.)
(b) Determine the prices for which quantity demanded is greater than quantity supplied.
For the price $
$ the quantity demanded is greater than quantity supplied.
p

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