Let the demand for Petrol be: Pd=100-18Qd and the supply for petrol be, Ps=20+2Qs Calculate the equilibrum price and quantity of petrol. a) Quantity= -7.5; Price= 5 b)Quantity= 4; Price= 28 c)Quantity= 6; Price= 32 d)Quantity= 5; Price= 30
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Let the demand for Petrol be:
Pd=100-18Qd
and the supply for petrol be,
Ps=20+2Qs
Calculate the equilibrum price and quantity of petrol.
a) Quantity= -7.5; Price= 5
b)Quantity= 4; Price= 28
c)Quantity= 6; Price= 32
d)Quantity= 5; Price= 30
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