The Demand and Supply Functions for Your College Newspaper Are $\begin{array} { l } q = - 14,000 p + 5,000 \\q = 4,000 p + 500\end{array}$

question 35

Multiple Choice

The demand and supply functions for your college newspaper are listed in order below: $\begin{array} { l } q = - 14,000 p + 5,000 \\q = 4,000 p + 500\end{array}$
Here $p$ is the price in dollars, and $q$ represents the quantity of papers that consumers will buy, or that the paper can produce. At what equilibrium price should the newspapers be sold so that there is neither a surplus nor a shortage of papers

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Definitions:

Resources

Assets, materials, or other inputs necessary for an organization to produce goods or services and operate effectively.

Expenses

Outflow of money to another person or company to pay for an item or service, or for a category within the income statement.

Costs

The total amount of money required for the production of goods or services, including materials, labor, and overhead expenses.

Prime Costs

The direct costs of manufacturing, including direct labor and materials.