- #1
jalen
- 25
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The demand for oranges is P=200-1.25Qd
The supply for oranges is P=-20+0.50Qs
a)find the equilibrium quantity
b)find the equilibrium price
c)what would occur if the market price was set at 150 cents?
Please help me get started or explain how I should do it as I have no idea where to start.
Thank you
The supply for oranges is P=-20+0.50Qs
a)find the equilibrium quantity
b)find the equilibrium price
c)what would occur if the market price was set at 150 cents?
Please help me get started or explain how I should do it as I have no idea where to start.
Thank you