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(-4p^6 q^8 + 8p^4 q^8 - 6 p^2 q^3 - 2) / (-2p^4 q^3)

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P3-2p^2-8p / 2^2+4p+4

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1. Worldwide quarterlysales of Nokia cell phones was approximately q=-p+156 million phones when the wholesaleprice was $p. (8 points)

(1) If Nokia was prepared tosupply q=4p-394 million phones per quarter at awhole price of $p, what would be the equilibrium price?

(2)The actualwholesale price was $105 in the fourth quarter of 2004. Estimatethe projected shortage or surplus at that price.


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