Question: Suppose the demand curve for oranges is given by the equation Q = 200 P + 1,000 With quantity (Q) measured in oranges per

Suppose the demand curve for oranges is given by the equation
Q = −200 • P + 1,000
With quantity (Q) measured in oranges per day and price (P) measured in dollars per orange. The supply curve is given by
Q = 800 • P
Compute the equilibrium price and quantity of oranges.

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