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ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P : 8|] 26%. Supply is represented by the equation P =
ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P : 8|] 26%. Supply is represented by the equation P = 20 + 2o\" where Gd and G's are quantity demanded and quantity suppl ied1 respectively, and Pis price. Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity as a whole number. Using the equilibrium condition 05: Cid; solye the equations to determine equilibrium price and equilibrium quantity. Equilibrium price = $ |:| Equilibrium quantity = |:| units
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