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Assume that demand for a commodity is represented by the equation

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Question

Question;Assume that demand for a commodity is represented by the equation P = 10 ? 0.2 Qd, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd

 

Paper#57912 | Written in 18-Jul-2015

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