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You are given a demand equation and a supply equation. Find the equilibrium point. (Enter your answers as a comma-separated list.) Demand: p = -0.56x + 30.11, supply: p = 0.27x + 6.87 (x, p) =

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 3MC

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You are given a demand equation and a supply equation. Find the equilibrium point. (Enter your answers as a comma-separated list.) Demand: p = -0.56x + 30.11, supply: p = 0.27x + 6.87 (x, p) =

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