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You are given the following equations for Demand and Supply. Find the levels of demand and supply at different price levels. Plot the demand and supply curves. What is the market equilibrium price and quantity?
Qd = 10 - 3P
Qs = 2 + P
Use the following supply and demand functions to answer Questions next question:
Qd =100 -2P
Q s = -20 + P
What are equilibrium price and quantity?
a. PE = $20 and QE = 100
b. PE = $40 and QE = 20
c. PE = $60 and QE = 40
d. PE = $30 and QE = 40
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