Here are the circumstances in an apple juice market. In this market, the supply curve is QS = 10PJ - 5PA and the demand curve is QD = 100 - 15PJ + 10PT, where J is apple juice, A is apples, and T is tea. (a) If the PA price is assumed to be $ 1 and PT = $ 5, calculate the equilibrium price and quantity on the market for apple juice

Macroeconomics
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ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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4. Here are the circumstances in an apple juice market. In this market, the supply curve is QS = 10PJ - 5PA and the demand curve is QD = 100 - 15PJ + 10PT, where J is apple juice, A is apples, and T is tea. (a) If the PA price is assumed to be $ 1 and PT = $ 5, calculate the equilibrium price and quantity on the market for apple juice.
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