Suppose the demand for a particular good is given by QD = 117 6P, where QD represents the quantity demanded and P is the per unit price. Suppose the supply for a particular good is given by QS = 19 + 6P, where QS represents the quantity supplied and P is the per unit price. What is the equilibrium price? Enter a number rounded to two decimal places.

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Chapter3: Supply And Demand: Theory
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Suppose the demand for a particular good is given by
QD
=
117 6P, where QD represents the quantity demanded and P is the
per unit price.
Suppose the supply for a particular good is given by
QS = 19 + 6P, where QS represents the quantity supplied and P is the per
unit price.
What is the equilibrium price?
Enter a number rounded to two decimal places.
Transcribed Image Text:Suppose the demand for a particular good is given by QD = 117 6P, where QD represents the quantity demanded and P is the per unit price. Suppose the supply for a particular good is given by QS = 19 + 6P, where QS represents the quantity supplied and P is the per unit price. What is the equilibrium price? Enter a number rounded to two decimal places.
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