In a competitive market, (inverse-) demand is P(Q)=130 - (2/2)*Q*, while (inverse-) supply is P(Q)=10 + (1/2)*Q•. What is the equilibrium quantity? Round to two decimal places. If your answer is 1.125, enter 1.13.

In a competitive market, (inverse-) demand is P(Q)=130 - (2/2)Q, while (inverse-) supply is P(Q)=10 + (1/2)*Q•. What is the equilibrium quantity? Round to two decimal places. If your answer is 1.125, enter 1.13.

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter4: Markets In Action

Section: Chapter Questions

Problem 18SQ

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In a competitive market, (inverse-) demand is P(Q)=130 - (2/2)*Q*, while (inverse-)
supply is P(Q)=10 + (1/2)*Q•. What is the equilibrium quantity?
Round to two decimal places. If your answer is 1.125, enter 1.13.

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