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What is the equilibrium price and quantity of coffee

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Reference no: EM13121640

Can You please solve this equation?

The quantity of coffee demanded Qd depends on the price of coffee Pc and the price of tea Pt the quantity of coffee supplied Qs depends on the price of coffee Pc and the price of electricity Pe.

according to the following equation

Qd = 17-2Pc + 10Pt

Qs=2+3Pc- 5Pe

If the price of tea is $1.00 and the price of electricity is $0.50 what is the equilibrium price and quantity of coffee?

Reference no: EM13121640

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