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Suppose that the market for cases of BEER (think of this as generic beer) is described by the following demand and supply functions: Qd=200.5P QS=25+3P
Suppose that the market for cases of "BEER" (think of this as generic beer) is described by the following demand and supply functions: Qd=200.5P QS=25+3P Solve for the equilibrium price and quantity in this market. Assume that the price is denominated in $/case and that quantity is denominated in 1000s of cases/month
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Economics
Authors: John Sloman, Jon Guest, Dean Garratt
10th edition
1292187859, 9781292187907 , 978-1292187853
