Suppose market demand and supply are given by Q^d = 300 − 4P and Q^s = −50 + 3P.The equilibrium quantity is:

Name: Suppose market demand and supply are given by Q d = 300 − 4P and Q s = −50 + 3P.The equilibrium quantity is:
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Question

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To find the equilibrium quantity, set Q^d equal to Q^s: 300 - 4P = -50 + 3P. Solving for P gives P = 50. Substitute P = 50 back into either the demand or supply equation to find the equilibrium quantity: Q = 300 - 4(50) = 100.

Suppose Market Demand and Supply Are Given by Qd =

Suppose Market Demand and Supply Are Given by Q^d =