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I need help with the below question : 6. Suppose the market demand curve for a product is given by Q4 =1000 10P and the
I need help with the below question :
6. Suppose the market demand curve for a product is given by Q4 =1000 10P and the market supply curve is given by Qs =50 + 25P. a. What are the equilibrium price and quantity? b. At the market equilibrium, what 1s the price elasticity of demand? c. Suppose the price in this market is $25. What is the amount of excess demandStep by Step Solution
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