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Demand and supply equations in the global molybdenum

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Reference no: EM131894907

Show all your work. The demand and supply equations in the global molybdenum market are estimated to be:

Demand curve: P = 140 - 2Q

Supply curve: P = 20 + 4Q

Assume a perfectly competitive market.

a) Calculate the equilibrium price and quantity.

b.) Calculate the consumer surplus.

c.) Calculate the producer surplus.

Reference no: EM131894907

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