In a market demand and supply equations are given by: QD = 1

In a market demand and supply equations are given by: QD = 1000 %u2013 10P and QS = -50 + 25P, Where… Show more In a market demand and supply equations are given by: QD = 1000 %u2013 10P and QS = -50 + 25P, Where QD and QS denote quantity demanded and quantity supplied respectively. P denotes price. Determine the levels of equilibrium price and quantity. Calculate the amount of excess demand or excess supply at P = 28. • Show less

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