Homework Answers
a) Market equilibrium
DD=SS
QD=1700-107P
QS=1944+207P
QD=QS
1700-107P=1944+207P
-107P-207P=1944-1700
-314P=244
P=244/314
=0.8
QD=1700-107*0.8
=1700-85.6
=1614.4
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