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Microeconomics Midterm - Part 3 of 3!
SAMPLE
This is a sample practice set. In order to have a more personalized exam prep experience:
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5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Consumer and Producer Surplus at Equilibrium / Problem 7
Problem 7

Given the demand equation Qd = 8000 - 400P and the supply equation Qs = 2000 + 600P, calculate the equilibrium price and quantity.