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19-03-2024
Business

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Suppose the demand function for coffee is (Qd = 1000 - 100P), and the supply function for coffee is (Qs = 100 + 200P). Based on these functions, the equilibrium price of coffee is , and the equilibrium quantity is .
a. $5, 800
b. $4, 600
c. $3, 400
d. $2, 200

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