1. The problem statement, all variables and given/known data Assume Harvard has the following marginal cost equation and acts like a competitive firm: MC = 10X + 100 The aggregate demand for education at the College is: X^D("D" simply stands for demand)= 200 - .5p The demand function above does not account for an additional benet to society from education. Specically, society benets $6 per unit of education consumed. What is the equilibrium price and quantity of education units (X) if there is no government intervention. 2. Relevant equations Equilibrium occurs when supply equals deman 3. The attempt at a solution I have MC, which I know also equals the supply. But the thing that throws me off with this problem is the presence of different variables. I cannot solve for X by setting the two equations together because of the existence of the P variable. Any ideas on how to approach this? Thanks!