An economist has estimated that, near the point of equilibrium, the demand curve and supply curve for 1 year bonds can be estimated using the following equations:Demand: Price = (-0.5)*Quantity + 930Supply:      Price = Quantity + 500Assume the face of the bond is $1,000.1. What is the expected equilibrium price and quantity of bonds in this market to 4 decimal places?                             Price$                                                                                                                                                                                                                                  Quantity    2. Given your answer to part (a), which is

Economics:
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Author:BOYES, William
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Chapter31: Capital Markets
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An economist has estimated that, near the point of equilibrium, the demand curve and supply curve for 1 year bonds can be estimated using the following equations:Demand: Price = (-0.5)*Quantity + 930Supply:      Price = Quantity + 500Assume the face of the bond is $1,000.1. What is the expected equilibrium price and quantity of bonds in this market to 4 decimal places?                             Price$                                                                                                                                                                                                                                  Quantity    2. Given your answer to part (a), which is 
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