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Estimate the Equilibrium Price and Quantity of Gasoline

eBook (PDF), 7 Pages
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Estimate the Equilibrium Price and Quantity of Gasoline
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"Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline. The total daily market demand function for gasoline in the market is QD=60,000-25,000P, where P is expressed in dollars per gallon. The daily market supply curve is QS=25,000P for P$0.60. Determine algebraically the equilibrium price and quantity of gasoline. "
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Product Details

Published
June 12, 2013
Language
English
Pages
7
File Format
PDF
File Size
613.83 KB

Formats for this Ebook

PDF
Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes
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