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# Given the demand and supply functions below, Qd=500-2p Qs=-100+2P Where Qd is the quantity demanded, Qs is the quantity supplied, P is the Price. A-...

Given the demand and supply functions below,
Qd=500-2p
Qs=-100+2P
Where Qd is the quantity demanded, Qs is the quantity supplied, P is the Price.
A- Solve for market equilibrium mathematically.
B- Describe verbally, the effects on equilibrium quantity and equilibrium price of:
1. Shifts in supply and demand functions to the right.
2. Shifts in supply and demand functions to the left.

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