(Advanced analysis)Answer the question on the basis of the following information.The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. Refer to the given information.The equilibrium quantity is:

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Quizplus · Accepted Answer

To find the equilibrium quantity, set the demand equation equal to the supply equation and solve for Q: 10 - 0.2Q = 2 + 0.2Q. Solving this equation gives Q = 20.

(Advanced Analysis)Answer the Question on the Basis of the Following