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April 20, 2014

Homework Help: Economics

Posted by Anonymous on Wednesday, February 25, 2009 at 8:37am.

Assume the demand curve for concert tickets is Qd= 300 - c*p and the supply curve is Qs= p - 20 (quantity expressed in thousands of tickets)
What is the equilibrium price and quantity
What are the consumer surplus and the producer surpluses.

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