Algebraically find the equilibrium price output combination

Reference no: EM1315556

Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:

P=$75 - 1.75Q_D (Demand)
P=$2Q_S (Supply)

Where P is price per lawn mowed and Q is quantity of lawn mowed per day.

Reference no: EM1315556

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