Answer to Question #81734 in Microeconomics for Kwami Hope Quao

Question #81734

QD1 = 45 - 2P1 + 2P2 - 2P3
QS1 = -5 + 2P1

Find the equilibrium price and quantity

Expert's answer

There is no equilibrium price and quantity as there are three unknown variables (P1, P2, P3 ) present but only two equations given.

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