P = 10
- P = 10.
- Qd = Qs = 6P = 6(10) = 60 = Q*
- Demand and supply in a market are described by the equations.
- Qd = 120-8P.
- Qs = -6+4P.
- a. Solve algebraically to find equilibrium P and Q.
- P* = 10.
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