Solution-Find the equilibrium price and quantity

Find the equilibrium price and quantity

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Reference no: EM131243265

Suppose the market demand for burritos is given by

Q_d= 36 - 4P and the market supply for burritos is given by

Q_s= 10P - 20

where P is the price (in dollars) per burrito and Q_d and Q_s are quantities (in millions) demanded and supplied respectively. Find the equilibrium price and quantity that will prevail in the market. At a price of $5, would there be a surplus or shortage? If so, how much?

Reference no: EM131243265

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Find the equilibrium price and quantity : where P is the price (in dollars) per burrito and Qd and Qs are quantities (in millions) demanded and supplied respectively. Find the equilibrium price and quantity that will prevail in the market. At a price of $5, would there be a surplus or ..

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Find the equilibrium price and quantity

Reference no: EM131243265

Reference no: EM131243265

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