2. Given the demand and supply function : D = 150-10P S= 100 + 20P a. Compute for the equilibrium price and equilibrium quantity. b. Illustrate the equilibrium condition graphically.

Macroeconomics
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ISBN:9781337617390
Author:Roger A. Arnold
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Chapter3: Supply And Demand: Theory
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2. Given the demand and supply function:
S= 100 + 20P
D = 150 - 10P
a. Compute for the equilibrium price and equilibrium quantity.
b. Illustrate the equilibrium condition graphically.
Transcribed Image Text:2. Given the demand and supply function: S= 100 + 20P D = 150 - 10P a. Compute for the equilibrium price and equilibrium quantity. b. Illustrate the equilibrium condition graphically.
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