Question: If the demand function is Q = 100 - 6P and the supply function is Q = 4P - 50, what is the market-clearing equilibrium

If the demand function is Q = 100 - 6P and the supply function is Q = 4P - 50, what is the market-clearing equilibrium and what are consumer surplus (CS) and producer surplus (PS)? Also, calculate the price elasticity of demand and the price elasticity of supply at the market-clearing equilibrium. If your answer is not a whole number, round the decimal to the tenths place. Do not include a $ sign as part of an answer.

Q =

P =

CS =

PS =

Price elasticity of demand =

Price elasticity of supply =

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