Quantity demanded-what is equilibrium price and quantity

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Given the following equations, Quantity Demanded = 90-2P Quantity Supplied = P

What is the equilibrium price and quantity? Illustrate in a graph.

If the price is $20? What will Qd and Qs be? Illustrate in a graph.

At a price of 20$ would there be a surplus or a shortage in the market. Specify if there are changes in Demand or Qty Demanded, Supply or Qty Supplied Illustrate in a graph

Reference no: EM131097186

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