Finding equilibrium price and quantity
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For each of the following sets of supply and demand curves, calculate equilibrium price and quantity.
a. QD = 4000 - 4P; QS = 4P
b. QD = 1000 - P; QS = 100 +P
c. QD = 5000 - 10P; QS = -1000 + 5P
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Solution Summary
Optimal price and quantity is obtained from supply and demand curves
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a. QD = 4000 - 4P; QS = 4P
To obtain equilibrium point QD = QS, ...
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