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The demand and supply functions of two goods are

Qd1 = 82 - 3P1 + P2, Qs1 = -5 + 15P1

Qd2 = 92 + 2 P1 - 4 P2 , Qs2 = -6 + 32 P2

(a) How these goods are related to each other?
(b) Find the equilibrium prices and quantities.

Microeconomics, Economics

  • Category:- Microeconomics
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