Asume the following demand and supply functionsdemand q , Ask an Expert

Economics

Assume the following demand and supply functions:

Demand: Q = 600 - .1P

Supply: Q = -150 + .5P

(a) Calculate equilibrium price and quantify

(b) Now assume that a seller declares 20% sale on the market equilibrium price. What will happen?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91924747

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