(Answered) Show all your work the demand and supply equations in the

Management Studies

Show all your work. The demand and supply equations in the global molybdenum market are estimated to be:

Demand curve: P = 140 - 2Q

Supply curve: P = 20 + 4Q

Assume a perfectly competitive market.

a) Calculate the equilibrium price and quantity.

b.) Calculate the consumer surplus.

c.) Calculate the producer surplus.

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