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Suppose that you are managing the forex bureau of a bank that faces a perfectly competitive market comprising of 18 identical commercial banks. Suppose further

Suppose that you are managing the forex bureau of a bank that faces a perfectly competitive market comprising of 18 identical commercial banks. Suppose further that the market demand (Qd) for US dollars and the supply(Qs) functions for the same are given belew Qd= 170,000,000-2,000,000P

Qs= 70,000,000+500,000P

1.Calculate the equilibrium market price and quantity of US dollars ?

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