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A market is described by demand equation Q = 500 - 2P and supplyequation Q = -100 + 4P. Calculate equilibrium values of these:(Show your calculations to receive credit for your answers.)

a) Price

b) Quantity

c) Total revenue

d) Price elasticity of demand

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Nestor Rutherford
Nestor RutherfordLv2
28 Sep 2019

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