Answered: Demand is given by QD=620-10p and…

Demand is given by QD=620-10p and supply is given by QS = 100+ 3p. What is the price and quantity when the market is in equilibrium?

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 1DQ

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Demand is given by QD = 620-10p and supply is given by QS = 100+ 3p. What is the
price and quantity when the market is in equilibrium?

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