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What are the equilibrium price and quantity

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Reference no: EM133128712

You are given that the Quantity Demanded (Qd) for a good is is a function of Prince (P) described by the following: Qd = 10 - (1/2)P or P = 20 - 2 (Qd)

You are also told that the Quantity Supplied (Qs) is fixed this year at 6 OR: Qs = 4

What are the equilibrium Price and Quantity?

Reference no: EM133128712

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