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Assume the demand and supply for good x can be written as Qd+2000-50PX qS+-400+30pX a. Find the equilibrium price and quantity of good x. Show

Assume the demand and supply for good x can be written as

Qd+2000-50PX

qS+-400+30pX

a. Find the equilibrium price and quantity of good x. Show your work.

b. find the inverse demand function

c.find the maximum amount of the good demanded. What is the price of good X which quantity demanded is zero?

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