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Home / Questions / Demand for a good is Qd = 20,000 – 100 P. Supply is Qs = -1000 + 200 P. a. Find Q*, P*,...

Demand for a good is Qd = 20,000 – 100 P. Supply is Qs = -1000 + 200 P. a. Find Q*, P*, consumer surplus, producer surplus, and total variable costs. Make a graph and label it. b. What is the

Demand for a good is Qd = 20,000 – 100 P. Supply is Qs = -1000 + 200 P.

a.   Find Q*, P*, consumer surplus, producer surplus, and total variable costs. Make a graph and label it.

b.   What is the elasticity of supply at the solution point? What is the elasticity of demand?

Jul 04 2021 View more View Less

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