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Answer to Question #268788 in Microeconomics for ella
Question #268788
consider market in which demand and supply equations are given by the following equations :
Qd = 400- 20P
Qs = 40P- 200
calculate the equilibrum price
Expert's answer
At equilibrium price:
"Qd=Qs"
"400-20P=40P-200"
"400+200=40P+20P"
"600=60P"
"P=10"
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