(Answered) Find the equilibrium price and quantity sold

Economics

Problem: Consider the widget market. The total demand for men is give by p_m(q_m) = 30 - q_m and total demand for women is given by p_w(q_w) = 24 - 2q_w. The cost of production is c = 4 per widget.

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Question: Suppose the widget market is competitive. Find the equilibrium price and quantity sold. Provide justifications and citations for your responses.

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Macroeconomics, Economics

Category:- Macroeconomics
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