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Please answer question 3.2 3.2 The demand and supply equations of a single commodity market model is defined as follows: ad: 164PandQs = 10+6P Where:

Please answer question 3.2image text in transcribed

3.2 The demand and supply equations of a single commodity market model is defined as follows: ad: 164PandQs = 10+6P Where: Qd is Quantity of the commodity demanded, Q5 is Quantity of the commodity supplied and P is the price of the commodity. Compute the equilibrium price and Q3. (2)

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