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Represent the demand and supply for bird feeders

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Reference no: EM131654599

The following equations represent the demand and supply for bird feeders.

QD = 35 - P

QS = -5 + 3P

What is the equilibrium price (P) and quantity (Q - in thousands) of bird feeders?

  • P = $35; Q = 20 thousand
  • P = $10; Q = 25 thousand
  • P = $20; Q = 20 thousand
  • P = $5; Q = 30 thousand

Reference no: EM131654599

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