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If the demand and supply laws are respectively given by the equations 4q+9p=48 and p=q/9+2. Find the equilibrium price and quantity.
If the demand and supply laws are respectively given by the equations 4q+9p=48 and p=q/9+2. Find the equilibrium price and quantity.
Solution
Previous article: In a perfect competition, the demand curve of a commodity is D=20-3p-pĀ² and the supply curve is S=5p-1, where p is price, D is demand and S is supply. Find the equilibrium price and the quantity exchanged.
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Next article: The sum of the pay of two lectures is Rs. 1600 per month. If the pay of one lecture be decreased by 9% and the pay of the second be increased by 17% their pays become equal. Find the pay of each lecture.
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