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1. Suppose the demand for a product is given by the equation Qd = 60 - 3 P and supply of the product is given

1. Suppose the demand for a product is given by the equation Qd = 60 - 3 P and supply of the product is given by the equation Qs=8P What are the equilibrium price and equilibrium quantity in the market for this product? (4 points)

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