A Good's Demand Curve Is Q_D = 50 - 2P,and

question 42

Essay

A good's Demand Curve is Q_D = 50 - 2P,and its Supply Curve is Q_S = 40 + P.
a.When P = $10,what is the difference,if any,between Q_D and Q_S?
b.When P = $2,what is the difference,if any,between Q_D and Q_S?
c.What are the equilibrium values of P and Q?

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