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Greg’s Hardware has determined the following demand and supply equations for nails QD = 10,000-25P QS = -5,000 + 50P a. How many nails would be sold for $100? b. At what price would nail sales be zero? c. When P = $200, what is total revenue? What is marginal revenue? d. What is the relationship between quantity supplied and quantity demanded at a price of $300?

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Greg’s Hardware has determined the following demand and supply equations for nails QD = 10,000-25P QS = -5,000 + 50P

a. How many nails would be sold for $100?

b. At what price would nail sales be zero?

c. When P = $200, what is total revenue? What is marginal revenue? d. What is the relationship between quantity supplied and quantity demanded at a price of $300?

 
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