Find the equilibrium price and quantity of commodity

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Reference no: EM132606080

1. If the market demand and supply equations of commodity X are given as : Qdx=22-2pxQsx=-20+5px Where Qdx and Qsx are quantity supplied of x and quantity demand of x respectively

Px is the price of commodity X then,

A. Find the equilibrium price and quantity of commodity x ?

B. What would occur if the price of commodity x is 5?

Reference no: EM132606080

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