Dmand for a good is qd 20000 100 p supply is qs -1000 , Business Economics

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Dmand for a good is qd 20000 100 p supply is qs -1000

Demand for a good is Qd = 20,000, 100 P. Supply is Qs = -1000 + 200 P. a. Find Q*, P*, consumer surplus, producer surplus, and total variable costs. Make a graph and label it. b. What is the elasticity of supply at the solution point? What is the elasticity of demand?

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