3.4 The demand function for a product is Qd = 1,600 - 10P, and its supply function...
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3.4 The demand function for a product is Qd = 1,600 - 10P, and its supply function is Qs = 400 + 5P. Calculate the equilibrium price and equilibrium quantity of the good. Check your answer by drawing the demand and supply curves in a figure.
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