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I need the graphic, i dnt understand this part. I have the information QO= 35,750 and QD= 35,700 but I need to illustrate it graphically
I need the graphic, i dnt understand this part. I have the information QO= 35,750 and QD= 35,700 but I need to illustrate it graphically
What are the equilibrium price and equilibrium quantity for the industry? Determine the answer both algebraically and graphically. (Round to the nearest hundredth).
QO= 25,000 P QD= 50,000-10,000P
QO=QD
25,000P= 50,000-10,000P
25,000+10,000=50,000
35,000=50,000
50,000/35,000=1.43
QO= 25,000 (1.43)
=35,750 unit
QD= 50,000-10,000 (1.43)= 35,700
I need illustrate this information in graphic
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