The demand and supply for a particular commodity are given by the following two equations:   Demand: P = 8 – 0.2Qd   and   Supply: P = 6 + 0.2Qs   Where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.   Using the equilibrium condition Qs = Qd, determine equilibrium price and equilibrium quantity.   Equilibrium price = $ _____   Equilibrium quantity = _____ units

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