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Compute market clearing price, quantity, price elasticity of demand and supply.

Assume the demand and Supply for CD players are given by:

QD = 36 - 2P

QS = 16+ 1P

Find the market clearing price and quantity. What are the price elasticities of demand and supply at this price and quantity? Could raising the federal fund rate increase employment in the long run? describe.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917927

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