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What is the equilibrium price and quantity in market

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Reference no: EM132648805

Consider the market for after school daycare where the demand is given by QD = 100 - 2P and the supply is given by QS = 5P.

a) What is the equilibrium price and quantity in this market?

b) Suppose the government is debating placing a price ceiling to help consumers. At what prices will the price ceiling have an effect on the market?

Reference no: EM132648805

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