= 2. Assume one equation for a good is P = 5000-300Q and a second equation...

 

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= 2. Assume one equation for a good is P = 5000-300Q and a second equation for that good is P 2000+ 150Q. Assume Q is the quantity and P is price. Remember you must show all your math work. a. Determine the equilibrium price and quantity. (10 points) b. Graph your result from above on the axes below-label everything, including the demand and supply curves, the axis intercepts, and the consumer and producer surplus areas. (10 points) = 2. Assume one equation for a good is P = 5000-300Q and a second equation for that good is P 2000+ 150Q. Assume Q is the quantity and P is price. Remember you must show all your math work. a. Determine the equilibrium price and quantity. (10 points) b. Graph your result from above on the axes below-label everything, including the demand and supply curves, the axis intercepts, and the consumer and producer surplus areas. (10 points)

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Sure Lets work through the equations and solve for the quantity Q and price P in each case Equa... View the full answer