Suppose that the demand and supply curves for good a are, Ask an Expert

Economics

Suppose that the demand and supply curves for good A are given as (note the instructions above about rounding your answers)

Demand: P = 500 - 2Qd

(Where Qd = quantity of good A demanded, P = price)

Supply: P = 200 + 3Qs

(Where Qs = quantity of good A supplied)

1. The equilibrium price in this market is

2. The equilibrium quantity in this market is Blank 1

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91224440

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