Suppose the demand for fish tacos is given by the following equation: Qd = 8-1P where Qd is the quantity demanded per week of fish tacos, and P is the price of fish tacos. Suppose further that the supply of fish tacos is: Qs = 2+ 1P where Qs is the quantity supplied per week of fish tacos. What is the equilibrium market price of fish tacos? (Round your answer to 2 decimal places.)

Suppose the demand for fish tacos is given by the following equation: Qd = 8-1P where Qd is the quantity demanded per week of fish tacos, and P is the price of fish tacos. Suppose further that the supply of fish tacos is: Qs = 2+ 1P where Qs is the quantity supplied per week of fish tacos. What is the equilibrium market price of fish tacos? (Round your answer to 2 decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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