Question: 4) Consider a competitive market With demand given by Qd = 10, 000 X (10 P) and supply given by Q5 = 2,500 x (P

4) Consider a competitive market With demand given by Qd = 10, 000 X (10 P) and supply given by Q5 = 2,500 x (P 4). a) Find the equilibrium price and quantity in this market, and calculate the consumer and producer surplus

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