Question: Suppose the supply function for a product is 2p -q-50-0, while the demand function for the same product is (p + 10)(q+30) = 7,000.

Suppose the supply function for a product is 2p -q-50-0, while the demand function for the same product is (p + 10)(q+30) = 7,000. Solve the supply function for q. 9- Substitute this value for q in the demand equation. Find the equilibrium price. $ Find the equilibrium quantity. Determine the market equilibrium point. (a,p)-

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