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Answer to Question #97984 in Economics of Enterprise for Vincent Gomez
Question #97984
suppose the demand curve for a product is given as Qdx =300-2p+4 i, where i is income.
The supply curve is Qs =3p-50
(a) if i =25, fine the market-clearing price
(b) if i =50, fine the market-clearing price
(c) present your results in a graphical diagram
The supply curve is Qs =3p-50
(a) if i =25, fine the market-clearing price
(b) if i =50, fine the market-clearing price
(c) present your results in a graphical diagram
Expert's answer
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#340153 on Dec 2023
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