The market for cod liver oil pills is characterized by the following demand and supply equations: Q^D = 100 - 4P and Q^S = -20 + 2P, where P is the price per bottle and Q is the quantity of bottles.
a. What are the equilibrium price and quantity?
b. If consumers want to purchase 60 more bottles at any given price, what are the new equilibrium price and quantity?

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The Answer of The market for cod liver oil pills is characterized by the following demand and supply equations: Q^D = 100 - 4P and Q^S = -20 + 2P, where P is the price per bottle and Q is the quantity of bottles. a. What are the equilibrium price and quantity? b. If consumers want to purchase 60 more bottles at any given price, what are the new equilibrium price and quantity?

The Market for Cod Liver Oil Pills Is Characterized by the Following