a particular market, demand and supply curves are defined by the following equations QD = 300 – 20P, QS = -540 + 40P, where P is the price per unit in pounds and QD and QS are the quantity demanded and quantity supplied, respectively. A) What is the equilibrium price and quantity? B) If a maximum price is fixed at £12, what quantity will b

Q: pply f

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A: Qd = 300 - 20P Qs = -540 + 40P

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