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Suppose that a market analysis shows that the demand and supply equations for the market
are as follows: Qs=8P; QD=336-6P. Find the equilibrium price and quantity in this market.
Now, using graph paper, plot the supply and demand curves carefully and verify that the
curves intersect at the equilibrium price and quantity that you found. On your graph, be
sure to label your axes and clearly indicate the price and quantity intercept values.
Answers: 1
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Suppose that a market analysis shows that the demand and suppl...
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