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The market for soda in Newtown can be represented by QD = 100 - 10P and QS = 10P, where Q is the ...

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The market for soda in Newtown can be represented by QD = 100 - 10P and QS = 10P, where Q is the ...

The market for soda in Newtown can be represented by QD = 100 - 10P and QS = 10P, where Q is the number of cases and P is the price per case.

Use the information above on the market for soda in Newtown. What would happen if the price of soda were $3 per case?

▸ There would be excess demand of 40 cases.

▸ There would be excess supply of 40 cases.

▸ There would be excess demand of 20 cases.

▸ There would be excess supply of 20 cases.

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Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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