Posted: March 6th, 2014
Demand Curve How to get the math part
The demand curve for a product is given by P=60-3Qd, where P is the price of the product and Qd is the quantity demanded for the product. The supply curve for the product is given by P=30+2Qs, where Qs is the quantity supplied for the product.<?xml:namespace prefix=”o” ns=”urn:schemas-microsoft-com:office:office”?></o:p>
a) Find the equilibrium price and quantity for the product.
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