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The market for iced tea is characterized by the following inverse supply and demand functions: Supply: =909 Demand: =29011 , where stands for quantity supplied
The market for iced tea is characterized by the following inverse supply and demand functions: Supply: =909 Demand: =29011 , where stands for quantity supplied (number of bottles), stands for quantity demanded (number of bottles), and stands for price (per bottle). The equilibrium quantity in the market for iced tea is bottles. Round to the nearest whole number.Try again. Recall that you are looking for a single quantity that when plugged into the inverse demand function would yield the same price as when plugged into the inverse supply function. To find the correct answer, you can set the two functions equal to each other and solve
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