Compare the quantity supply and quantity demand

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Reference no: EM13996471

The demand for books is: Qd = 100 - P

The supply of books is: Qs = 4P

a. What is the equilibrium price of books?

b. What is the equilibrium quantity of books sold?

c. When a price floor of $25 is instituted, compare the Quantity Supply and Quantity Demand.

d. What happens when a price floor of $10 is instituted?

Reference no: EM13996471

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