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OpenStudy (anonymous):
Find the equilibrium price for the demand function D(p) = 8000-50p and the supply function S(p) = 75p. Please show your work.
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OpenStudy (anonymous):
I come up with 64 = p. Anyone want to confirm this for me?
OpenStudy (anonymous):
When supply and demand are equal (i.e. when the supply function and demand function intersect) the economy is said to be at equilibrium |dw:1316356650704:dw||dw:1316356695367:dw|
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