Assume that the supply of apricots is Q_S= 2P - 10 - a, and the demand for apricots is Q_D=25 - P/3 + b, where a and b are exogenous supply and demand shifters.

Assume that a=0 and b=0.

Compute the equilibrium price and quantity.

Answer rating: 100% (QA)

To find the equilibrium price and quantity we need to set the quantity ... View the full answer