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.)
Chapter1: Making Economics Decisions
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Transcribed Image Text: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 QST = 2Pc - 0.5PT, where Qr is the quantity of tea in tonnes.
%3D
%3!
In general equilibrium, what is the equilibrium quantity of tea in tonnes?
(Only include numerical values in the answer field. Do not include any text or symbols,
such as $, %, etc.)
Answer:
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