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Demand: Consider the following US reduced supply and demand equations for commodity X: Q d X = 400 - 2 P x andQ s X

Demand:

Consider the following US reduced supply and demand equations for commodity X:

Q_d^X = 400 - 2 P_xandQ_s^X = -100 + 3 P_x

What are (i) the equilibrium price per unit of product; (ii) Quantity of this product sold at this price; and (iii) what were the revenue for the producer(s)?

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