Question
Suppose the demand function is p = 1 0 0 ?? 0 . 0 1 x and the supply function is p
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To find the equilibrium price and quantity we set the demand equal to the supply Demand p 100 001x Supply p 10 002x Setting them equal gives us 100 00...Get Instant Access to Expert-Tailored Solutions
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Get StartedRecommended Textbook for
Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
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