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Suppose that the demand for rental apartments in Washington, DC, is represented by the following equation, where P is the monthly rent. QD= 10,000 -

Suppose that the demand for rental apartments in Washington, DC, is represented by the following equation, where P is the monthly rent.

QD= 10,000 - 2P

The supply of rental apartments is represented by the following equation:

QS= 2,000 + 3P

The equilibrium rent is a) $, and the equilibrium quantity is b) $.

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