The following relations describe the supply and demand for posters. QD = 65,000 - 10,000P and QS = -35,000 + 15,000P where Q is the quantity and P is the price of a poster, in dollars.   1. Complete the following table. (attached)                       2. What is the equilibrium price?

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.