Question: The reduced demand function for product X is Q d =4000- 800P x and its reduced supply function is Q s =1000+200P x Calculate the

The reduced demand function for product X is Qd=4000- 800Px and its reduced supply function isQs =1000+200Px

Calculate the equilibrium price and equilibrium quantity of the good.

a.

$3; 1600
b.

$4; 800
c.

$1; 1600
d.

$3; 2400

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