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Determine the equilibrium price and quantity in market

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Reference no: EM132177065

Suppose the market demand and supply functions are QD = 300 - 2P and QS = 4P - 204.

a. Determine the equilibrium price and quantity in this market.

b. You've researched and found that most firms in the market currently experience costs such that TC = 40 + 71Q - 11Q2 + 3.4Q3. Determine whether or not you should enter this market.

Reference no: EM132177065

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