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What is the equilibrium price and quantity of the product

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Reference no: EM13335827

Suppose the demand for a product is given by P = 30 – 3Q. Also, the supply is given by P = 10 + Q.

A) What is the equilibrium price and quantity of the product?

B) What is the price elasticity of demand at the equilibrium price?

Reference no: EM13335827

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