What is the equilibrium price of wheat? what is the, Ask an Expert

Economics

If the demand curve for wheat in the US is P=12.4 - Q ( quantity demanded) and the supply curve for wheat is P= 2.6 + 2Q( q is quantitiy supplied) What is the equilibrium price of wheat? What is the equilibrium quanitiy of wheat sold? Must the actual price equal the equilibrium.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M951648

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