The market demand curve for a product is D(p) = q = 411 - 0.2p. The market supply curve is S(p) = q = 3p - 85. What is the market equilibrium price? Round your answer to two decimal places.
The market demand curve for a product is D(p) = q = 411 - 0.2p. The market supply curve is S(p) = q = 3p - 85. What is the market equilibrium price? Round your answer to two decimal places.
Chapter1: Making Economics Decisions
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Need answer for both of the question please.
![The market demand curve for a product is D(p) q = 411 0.2p. The market supply curve is S(p) = q
3p-85. What is the market equilibrium price? Round your answer to two decimal places.
Write the inverse demand and supply functions from the previous question. Also drawa graph
depicting these curves & the market equilibrium price & quantity. Upload these responses as an
image or a Word document. (You can do it by hand, take a picture, and upload it.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd9d5196d-f12e-495e-b5fe-79d7f952e0f2%2Ffbf5ee08-3ab1-4f05-b3e0-b70647734cd1%2Fk468jun_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The market demand curve for a product is D(p) q = 411 0.2p. The market supply curve is S(p) = q
3p-85. What is the market equilibrium price? Round your answer to two decimal places.
Write the inverse demand and supply functions from the previous question. Also drawa graph
depicting these curves & the market equilibrium price & quantity. Upload these responses as an
image or a Word document. (You can do it by hand, take a picture, and upload it.)
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