Need answers, fast reply for thumps up.ΛSuppose that the U.S. market fornew vinyl LPs in 2018 had supply anddemand curves given byP^5 18+0.64 ^ 5 and--p^d 26 0.64 ^ da) calculate the equilibrium price.b) calculate equilibrium quantityc) draw demand and supply diagram**** SHOW YOUR CALCULATIONS*****10:05 PM

a) Calculating the equilibrium price:The supply and demand equations given are:Supply: P^s = 18 +…

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EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter2: Using Economics To Study Health Issues

Section: Chapter Questions

Problem 1QAP

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