Ecomomics: Demand and Supply
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Demand function Qd + 20 â?" P
Supply Function: Qs = -10 + 2P
Q1. Find the equilibrium price and quantity. Show your work
Q2. Assume demand function has changed t0o Qd2 = 14-P. What is the new equilibrium price and quantity? Show your work
Show all your work i.e. excel spread sheet, graphs and formulas used
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Solution Summary
The solution provides the equilibrium price and quantity.
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