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Hello.
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To determine the size of the shortage, we need to calculate the quantity demanded and the quantity supplied at the price of $6 ,000 using the demand and supply equations provided.
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So here's a step -by -step calculation.
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So first, we're looking at the quantity demand.
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We have the equation set as p equals 30 ,000 minus 2q.
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To find the quantity demanded at a price of $6 ,000, we substitute p with $6 ,000.
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So we have $6 ,000 equals $30 ,000 minus 2q.
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And we can rearrange and simplify this equation where we get 2q is equal to $24 ,000.
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And then divide by 2 on each side, and you're going to get that q is equal to $12 ,000.
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So the quantity demanded at $6 ,000 is 12 ,000 computers.
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Excuse me, computers.
00:56
Now we can look at the quantity supplied, and it's a pretty similar equation...