Questionare given by the followwevequations:Suppose the demand and supply curves for units of university creditsQP = 5000 PQ° -3P-200where Q is the quantity of credits demanded,Q is the quantity supplied, and Pis the pricecharged for each unit in dollars.(a)ets! What is the free-market equilibrium Price and Quantity.Suppose that the government wants to make education more acessible andtherefore passes a regulation that says no university can charge more tthan $800 per credit.What is the new equilibrium Price and Quantity?

In a free market, the price and quantity of an item are determined by the supply and demand for that…

Answered: equations: Q" =5000 P Q = 3P-200 2" is…

equations: Q" =5000 P Q = 3P-200 2" is the quantity of credits demanded, Q is the quantity supplied, and Piis for each unit in dollars. nts What is the free-market equilibrium Price and Quantity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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