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What is the equilibrium price? What is the equilibrium quantity? . Hint: Equate Qd = Qs. Solve for the equilibrium price and then the

What is the equilibrium price? What is the equilibrium quantity? . Hint: Equate Qd = Qs. Solve for the equilibrium price and then the quantity. Assume the government places a price ceiling at $5 in the market. What is the quantity demanded? What is the equilibrium? . Demand Equation: Qd = 80 - 2P Supply Equation: Qs = 18+ 4P

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