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CONSIDER A MARKET CHARACTERIZED BY THE FOLLOWING INVERSE

CONSIDER A MARKET CHARACTERIZED BY THE FOLLOWING INVERSE

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Author: Christine Farr
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http://theperfecthomework.com/consider-a-market-characterized-by-the-following-inverse-demand-and-supply-functions-px-30-3qx-and-px-10-2qx/

Consider a market characterized by the following inverse demand and supply functions: PX = 30 – 3QX and PX = 10 + 2QX. Compute the number of units exchanged and the price at which those units will be exchanged when there is a $24 per unit price floor.


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