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A certain product has supply and demand functions given by p = 40q+ 300 and...

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Algebra

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A certain product has supply and demand functions given by p = 40q+ 300 and p = 9300-50q, respectively. (a) If the price p is $1300, how many units q are supplied and how many are demanded? (b) What price gives market equilibrium, and how many units are demanded and supplied at this price? (a) When the price p is $1300, there are (Simplify your answer.) ... units supplied and units demanded.

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