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Consider the demand curve Qd = 150 - 2P and the supply curve Qs = 50 + 3P. What is total expenditure at equilibrium? Make sure to round your answers to the nearest 100th percentage point. Also, do not write any symbol. For example, write 123.34 for $123.34. Let me know if you have questions. Good luck.

Answer :

IamJerry

Answer:

20

Step-by-step explanation:

At equilibrium quantity demanded Qd equals quantity supply Qs

                              Qd = Qs      (At equilibrium)

     ⇒                   150 - 2P = 50 + 3P

solving for P in the equation,

                             3P + 2P = 150 - 50

                              5P = 100

                                [tex]P = \frac{100}{5}[/tex]

                                P = 20

 

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