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The demand and supply functions of a good are given by: P=-3Q_(D)+75 P=2Q_(s)+15

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The demand and supply functions of a good are given by:
P=-3Q_(D)+75
P=2Q_(s)+15

The demand and supply functions of a good are given by: P=-3Q_(D)+75 P=2Q_(s)+15

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Yigit
Usta · 5 yıl öğretmeni
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To find the equilibrium price and quantity, we need to set the demand and supply functions equal to each other and solve for Q. <br /><br />$-3Q_{D}+75 = 2Q_{s}+15$<br /><br />Solving for Q, we get:<br /><br />$Q_{D} = \frac{75 - 15}{3} = 20$<br /><br />$Q_{s} = \frac{75 - 15}{2} = 30$<br /><br />Therefore, the equilibrium price is:<br /><br />$P = -3(20) + 75 = 15$<br /><br />$P = 2(30) + 15 = 75$<br /><br />Since the equilibrium prices from both the demand and supply functions are not equal, there is no equilibrium price.
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