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ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation
P=90-2Qd
Supply is represented by the equationP=-5+3Qswhere Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.Instructions: Enter your answer for price rounded to 2 decimal places and enter your quantity as a whole number.a. Using the equilibrium condition Qs = Qd, determine equilibrium price.$.
b. Now determine equilibrium quantity. Units.
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