Question: From a demand function Qd = 2000 30 P and a supply function Qs = 20 P, find out ( a) equilibrium price, (

From a demand function Qd = 2000 – 30 P and a supply function Qs =

20 P, find out

(

a) equilibrium price,

(

b) equilibrium quantity, and

(

c) gap between demand and supply at P = `20 and P = `50.

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