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The supply and the demand curves for the high-end headphone market are given by the following equations where P is the price per headphone measured

The supply and the demand curves for the high-end headphone market are given by the following equations where P is the price per headphone measured in dollars and Q is the quantity of headphones:

Market Demand Curve: P = 1500 - 3Q

Market Supply Curve: P = Q + 500.

Use the information above to find the equilibrium price and quantity in this market.

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