What are the market equilibrium quantity and price?

Nov 7th, 2015
Business Finance
Price: $5 USD

Question description

Suppose the equation for the demand curve in a market is P=120-1/5*Qd , where Qd is the quantity demanded and P is the price, Also, suppose the equation for the supply curve in the same market is P=1/10*Qs, where Qs is the quantity supplied. What are the market equilibrium quantity and price?

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