Find market clearing price and quantity in the market

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Reference no: EM131170946

Find the market clearing price and quantity in the market for TVs if market demand is given by P=7,000-20Qd and Supply is given by, P=1000+10Qs?

Part B: At this price, find the elasticity of demand.

Part C: At this price, find the elasticity of supply.

Pard D: Comment on the elasticity of demand. What could cause Tvs to be (in)elastic?

Reference no: EM131170946

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