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For Each of the Following Sets of Supply and Demand

Question 21

Essay

For each of the following sets of supply and demand curves,calculate equilibrium price and quantity.
a.QD = 2000 - 2P; QS = 2P
b.QD = 500 - P; QS = 50 + P
c.QD = 5000 - 10P; QS = -1000 + 5P

Correct Answer:

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a.Q = 1000,P = 500 b...

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