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    Economics

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    Demand and supply of wheat are:
    Qd=2000-1000p and Qs = -500 + 1000p

    Where Q is millions of bushels and P is price per bushel.

    How do you figure out the equilibrium price and demand. I cannot find a good explanation of the formula to use.

    © BrainMass Inc. brainmass.com October 9, 2019, 9:42 pm ad1c9bdddf
    https://brainmass.com/economics/general-equilibrium/economics-194862

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    Market Equilibrium is the state in which the demand for a good or service is equal to ...

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