The demand and supply functions of a good are given by:
P=-3Q_(b)^(2)+60Q_(D)+120 P=4Q_(s)^(2)+40Q_(s)+50
where P, Qa and Qs denote price, quantity demanded and quantity supplied reapectively. Find the equilibrium price and quanity.

Question

The demand and supply functions of a good are given by:

P=-3Q_(b)^(2)+60Q_(D)+120
P=4Q_(s)^(2)+40Q_(s)+50

where P, Qa and Qs denote price, quantity demanded and quantity supplied reapectively. Find the equilibrium price and quanity.

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(Solved): The demand and supply functions of a good are given by: P=-3Q_(b)^(2)+60Q_(D)+120 P=4Q_(s)^(2)+40Q_( ...