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Assume the following demand and supply equations qd 1000 -

Assume the following demand and supply equations: Qd = 1000 - 40P, and Qs = 400 + 20P.

Calculate the intercepts and the slopes of the two curves.
Calculate the equilibrium price and quantity.
Calculate the elasticity at the equilibrium and interpret the answer.

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Macroeconomics: Assume the following demand and supply equations qd 1000 -

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Macroeconomics: Assume the following demand and supply equations qd 1000 -

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