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Greg's Hardware has determined the following demand and supply equations for nails

QD = 10,000-25P

QS = -5,000 + 50P

a. How many nails would be sold for $100?

b. At what price would nail sales be zero?

c. When P = $200, what is total revenue? What is marginal revenue?

d. What is the relationship between quantity supplied and quantity demanded at a price of $300?

Business Economics, Economics

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