In a given market, demand is described by the equation: QD=1800-10P And supply is described by  QS=200+10P 1. Determine the equilibrium price and quantity  2. Graphically illustrate the equilibrium price and quantity

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter5: Supply, Demand, And Price: Applications
Section: Chapter Questions
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In a given market, demand is described by the equation:

QD=1800-10P

And supply is described by 

QS=200+10P

1. Determine the equilibrium price and quantity 

2. Graphically illustrate the equilibrium price and quantity 

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