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The demand function for a product is Q d X =4000- 800P x and its supply function is Q s X =1000+200P x Calculate the

  1. The demand function for a product isQdX=4000- 800Pxand its supply function isQsX=1000+200Px
  2. Calculate the equilibrium price and equilibrium quantity of the good.
  4. a.2; 2400
  5. b.1; 3200
  6. c.3; 1600
  7. d.4; 800

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