Question 1 (500 words)

| December 7, 2018

Question 1 (500 words) The following relations describe monthly demand and supply for a computer support service catering to small businesses. QD = 3000 – 10P QS = -1000 + 10P Where Q is the number of businesses that need services and P is the monthly fee, in dollars. a) At what average monthly fee would demand equal zero? b) At what average monthly fee would supply equal zero? c) Plot the supply and demand curves. d) What is the equilibrium price/output level? e) Suppose demand increases and le …

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