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Math Help - Market equilibrium

  1. #1
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    Post Market equilibrium

    Please help me solve this.

    1.The market equilibrium point for a product occurs when 15,000 units are produced and sold at Php12 per unit. The lowest at which the producer is willing to supply the product is php14 and the highest price the consumer will buy it is php16. Find the demand and supply equations assuming that they are both linear.
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  2. #2
    MHF Contributor

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    Re: Market equilibrium

    What you have written makes no sense! The "lowest at which the producer is willing to supply the product" is higher than the equilibrium price. Check the statement of the problem again.
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