The market demand and supply for coffee is given by QPc= 210 - Pc and QSc= 2Pc-0.5PT, where Qc is the quantity of coffee in tonnes, Pc is the price per tonne of coffee, and Pr is the price per tonne of tea. The market demand and supply for tea is given by QPr 210 - Pc and QS, = 2Pc- 0.5PT, where Qr is the quantity of tea in tonnes. In general equilibrium, what is the equilibrium quantity of tea in tonnes? %3! (Only include numerical values in the answer field. Do not include any text or symbols, such as $, %, etc.)

The market demand and supply for coffee is given by QPc= 210 - Pc and QSc= 2Pc-0.5PT, where Qc is the quantity of coffee in tonnes, Pc is the price per tonne of coffee, and Pr is the price per tonne of tea. The market demand and supply for tea is given by QPr 210 - Pc and QS, = 2Pc- 0.5PT, where Qr is the quantity of tea in tonnes. In general equilibrium, what is the equilibrium quantity of tea in tonnes? %3! (Only include numerical values in the answer field. Do not include any text or symbols, such as $, %, etc.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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