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Answer to Question #206399 in Macroeconomics for tsion
Question #206399
If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price and quantity?
Expert's answer
Equilibrium Price ="Q_s=Q_d"
"-20 + 10p=400 - 20p"
"30p=420"
"p=14"
Equilibrium Price =14
Equilibrium Quantity ="400-(20\u00d714)=120"
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