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Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert...

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Suppose that the quantity supplied S and quantity demanded D of T-shirts at a concert are given by the following functions where p is the price.S(p)=-340+ 40pD(p) = 1100-50pAnswer parts (a) through (c).(a) Find the equilibrium price for the T-shirts at this concert.The equilibrium price is $16 (Round to the nearest dollar as needed.)What is the equilibrium quantity?The equilibrium quantity is 300 T-shirts.(Type a whole number.)(b) Determine the prices for which quantity demanded is greater than quantity supplied.For the price $$ the quantity demanded is greater than quantity supplied.p

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