The annual demand for imported oranges is given by the following equation: ?? = 600,000 − 30,000? where ? is the price per kilogram and ?? is quantity of kilograms demanded per year. The supply of imported oranges is given by the equation: ?? = 20,000? a. Solve for the equilibrium annual quantity and price of imported oranges.

The annual demand for imported oranges is given by the following equation: ?? = 600,000 − 30,000? where ? is the price per kilogram and ?? is quantity of kilograms demanded per year. The supply of imported oranges is given by the equation: ?? = 20,000? a. Solve for the equilibrium annual quantity and price of imported oranges.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter1: Introducing The Economic Way Of Thinking

Section1.A: Applying Graphs To Economics

Problem 2SQP

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