Question: ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=802Qd Supply is represented by the equation P=20+2Qs, where Qd and QS

ADVANCED ANALYSIS Assume that demand for a commodity is represented by

ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=802Qd Supply is represented by the equation P=20+2Qs, where Qd and QS are quantity demanded and quantity supplied, respectively, and P is price. Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity as a whole number. Using the equilibrium condition QS=Qd, solve the equations to determine equilibrium price and equilibrium quantity. Equilibrium price =$ Equilibrium quantity = units

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