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Equilibrium quantity in market

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Reference no: EM133062954

The following equations represent the supply and demand for watches in a particular market:

Q_{d=100-P}QdPQ_s=P-20Qs

=100-?

?=P-20

1)The equilibrium price in this market is $?

2) The equilibrium quantity in this market is?

3) If the price of watches was $80 in this market, then competition among either buyers or sellers would push the price either be up or down towards equilibrium?

Reference no: EM133062954

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