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John Barks owns Barks Computer Screens Inc. and wants to
identify the supply and demand for screens in his market. The
company can produce large screens called Wides or small screens
called Squares. The production processes are interchangeable, and
production can be adjusted depending on market conditions. The
demand for both products is highly elastic in terms of price
elasticity, and customers perceive the two products as close
substitutes for each other.

Barks needs some help in completing his market analysis. Therefore,
he hires you as a consultant and provides you with the results of
his analysis. He has found that the functions for supply and demand
in his market are:

Qd = 157 – 35P + 12.5Pw + 0.1Y
Qs = –120 + 75P – 30Pw + 13PL + 12R

Where:

Qd = Demand
Qs = Supply
Pw = Average price of Wides
Y = Income in his market
PL = Price of labor
R = Is the average humidity level measured in hums

Create a report answering the following questions:

Assume the quantities demanded and supplied are a function of
price. Given the following conditions, determine the demand and
supply curves for Barks Computer Screens Inc.

Pw = $6.00
Y = $1,600.00
PL = $9.00
R = 25

Calculate the market conditions (shortage, surplus, or equilibrium)
for Wides if the following price conditions exist in the market:
$1.75, $2.10, and $2.70.

Determine the market equilibrium conditions in this market for
Wides.

Summarize your recommendations or advice to Barks concerning market
conditions and production levels. 

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