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Answer to Question #331860 in Microeconomics for Lupin
Question #331860
The market demand and supply schedule for commodity X is as follows:
Qd=2000 -60 P and Qs=400 + 40P
What is the equilibrium price (RS) and quantity (Units) demanded for on the Market. Use a Diagram.
Expert's answer
"Q_d=Q_s,"
"1600=100P,"
"P=16,"
"Q_d=Q_s=1040."
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