Question: Consider the following supply and demand curves for a certain product. QS = 25.000P QD, = 50,000 - 10.000P a. Plot the demand and supply

Consider the following supply and demand curves for a certain product.
QS = 25.000P
QD, = 50,000 - 10.000P
a. Plot the demand and supply curves.
b. What are die equilibrium price and equilibrium quantity for the industry? Determine the answer both algebraically and graphically. (Round to the nearest cent.)

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