Question: It is known that the demand function P = 15 - 0.25Q and the supply function P = 0.2Q + 6. Determine: a. Market equilibrium

It is known that the demand function P = 15 - 0.25Q and the supply function P = 0.2Q + 6. Determine: a. Market equilibrium price and quantity b. The size of the consumer surplus c. The size of the producer surplus

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