Question: Suppose that the demand and supply curves for a commodity are P = 300 -0.3Q and P = 200 +0.2Q, respectively. Find the equilibrium quantity

Suppose that the demand and supply curves for a commodity are P = 300 -0.3Q and P = 200 +0.2Q, respectively. Find the equilibrium quantity and compute the consumer and producer surplus. (5 points)

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