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Discover the new equilibrium price and quantity

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Reference no: EM13685651

Given the below supply and demand equations for computers,

P = 250 - 2Q (Demand)

P = 50 + 3Q (Supply)

The company decides to increase its marketing expenses to boost its sales and the new supply equation is P = 90 + 3Q and the new demand curve is P = 280 – 2Q. Discover the new equilibrium price and quantity.

By comparing the total revenue, evaluate whether the company must increase its marketing expenses to boost sales.

Reference no: EM13685651

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