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What is the equilibrium price and quantity of aluminum

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Problem - Suppose that the US demand for aluminum is given by QD = 500 - 50 P + 10Y, where P = Price of aluminum per ton Y = average income (in 1000's per year). And the US supply of aluminum is given by QS = 50 P - 200 PB.

If Y = 10 and PB = 2, what is the equilibrium price and quantity of aluminum?

Reference no: EM131165523

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