Need answer for both of the question please. The market demand curve for a product is D(p) q = 411 0.2p. The market supply curve is S(p) = q3p-85. What is the market equilibrium price? Round your answer to two decimal places.Write the inverse demand and supply functions from the previous question. Also drawa graphdepicting these curves & the market equilibrium price & quantity. Upload these responses as animage or a Word document. (You can do it by hand, take a picture, and upload it.)

Name: Need answer for both of the question please. The market demand curve f
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Description: Need answer for both of the question please. The market demand curve for a product is D(p) q = 411 0.2p. The market supply curve is S(p) = q3p-85. What is the market equilibrium price? Round your answer to two decimal places.Write the inverse demand

Here, given information is: D(p)=q=411-0.2p and, S(p)=q=3p-85

Answered: The market demand curve for a product…

Business

Economics

The market demand curve for a product is D(p) = q = 411 - 0.2p. The market supply curve is S(p) = q = 3p - 85. What is the market equilibrium price? Round your answer to two decimal places.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 2TY

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