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2. (15%) We have the following demand and supply functions. Q-10-P and Q = 5+P a. find the equilibrium price and equilibrium quantity b.
2. (15%) We have the following demand and supply functions. Q-10-P and Q = 5+P a. find the equilibrium price and equilibrium quantity b. draw the graph for supply and demand using the functions above.
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Managerial Economics and Business Strategy
Authors: Michael R. baye
7th Edition
978-0073375960, 71267441, 73375969, 978-0071267441
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