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What are the equilibrium prices and quantities

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Question - Suppose that the supplies of products A and B are given by: QA = 20 +2PA, and QB = -50 + PB, and that the demands for A and B are given by the following equations (in inverse demand form): PA = 2,000 - 0.5QA + 4PB and PB = 500 - 2QB + PA. What are the equilibrium prices and quantities of A and B? Show your work.

Reference no: EM131168034

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