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Suppose that the supply and demand curves

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Question and solution:

Suppose that the supply and demand curves can be described by the following two equations:

Q=3P-6

and

Q=120-3P 

a. Which equation is the supply curve and which equation is the demand curve? How do you know?

Demand curve is Q=120-3P (because P increases, Q decreases)

Supply curve is Q=3P-6 (because P increases, Q increases).

Reference no: EM131967964

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