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27 Aug 2018
Suppose you are given the following functions:
Q =14-p and Q=-2+p
Find the Price and Quantity equilibrium.
Define the slope and intercept of the Demand function.
Describe the situation when the price is above the equilibrium.
Describe the situation when the price is below the equilibrium.
Suppose you are given the following functions:
Q =14-p and Q=-2+p
Find the Price and Quantity equilibrium.
Define the slope and intercept of the Demand function.
Describe the situation when the price is above the equilibrium.
Describe the situation when the price is below the equilibrium.
Casey DurganLv2
27 Aug 2018