The supply and demand curves for pears are
QS = 10,000P
QD = 25,000 – 15,000P
where QS is the quantity (tons) supplied, QD is the quantity (tons) demanded, and P is the price per pear (in hundreds of dollars per ton).
a. Plot the supply and demand curves.
b. What is the equilibrium price?
c. What is the equilibrium quantity?
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