Question: If the demand function is Qequals 140minus20 p, and the supply function is Qequals 10plus20 p, what are the equilibrium price and quantity? Part 2

If the demand function is

Qequals

140minus20

p,

and the supply function is

Qequals

10plus20

p,

what are the equilibrium price and quantity?

Part 2

The equilibrium price is

$enter your response here

per unit. (Enter your response rounded to two decimal places.)

Part 3

The equilibrium quantity is

enter your response here

units. (Enter your response rounded to one decimal place.)

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