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competitive equilibrium price and quantity

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A consultant has provided you with his best estimates of market demand and supply for herbal tea as:

Qd= 50- P
Qs= 0.5-10

a. Determine the competitive equilibrium price and quantity
b. Determine the quantity demanded, quantity supplied, and the magnitude of the surplus if a price floor of $42 is imposed in the market.

(Please see attachment for rest of questions)

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Solution Summary

This post finds competitive equilibrium price and quantity.