Solved: Equilibrium price-equilibrium quantity, Microeconomics

Equilibrium price-equilibrium quantity

Task: The following relation describes the monthly demand and supply for a computer support service, catering to small businesses:

Q_d = 3,000 - 10P
Q_s = -1000 + 10P

a) At what average monthly fee would demand equal zero?

b) At what average monthly fee would supply equal zero?

c) What are the equilibrium price and equilibrium quantity?

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Microeconomics: Equilibrium price-equilibrium quantity

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Microeconomics: Equilibrium price-equilibrium quantity

Reference No:- TGS01940991

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