Answer
a) Equilibrium price $p = 24$
b) For $p < 24$ , $D(p) > S(p)$
c) When quantity demanded is more than supply, then price will go up
Work Step by Step
$S(p) = - 600 + 50p$
$D(p) = 1200 - 25p$
A)
At equilibrium price, D(p) = S(p)
=> $-600 + 50p = 1200 -25p$
=> $75p = 1800$
=> $p = 24$
Equilibrium quantity $S(24) = -600 + 50\times24 = 600$
b) p for which $D(p) > S(p)$
=>$1200 -25p > -600 + 50p$
=>$1200 + 600 > 50p + 25p$
=> $p < 24$
For p<24 demand will be more than supply
c) When quantity demanded is more than supply, then price will go up