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Compute the number of units and the unit price

Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX? Compute the number of units and the price at which those units will be exchanged when there is an $8 per unit price floor.

Solution Summary

Compute the number of units and the unit price in this case.

$2.19