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Find the equilibrium point

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Reference no: EM131138915

1) a. Find the equation of a line perpendicular to the line y = 2x - 3 and goes through the point (-2, 7).

b. If the demand function of a certain item is p = D(q) = 7 - 0.25q, and foe the same item the supply function is p = S(q) = 0.25q, find the equilibrium point.

Reference no: EM131138915

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