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Business, 12.06.2021 21:40 peno211

Suppose the demand function​ (D) for golf clubs​ is: Q​P, where P is the price paid by consumers in dollars per club and Q is the quantity demanded in thousands. Suppose the supply curve​ (S) for golf clubs is estimated to​ be: QP. Calculate the equilibrium price for golf clubs and the equilibrium quantity sold. The equilibrium price is ​$ 75 per club ​(Enter your response as an​ integer.)​, and the equilibrium quantity is 75 thousand clubs ​(Enter your response as an integer.​) Suppose instead that golf club producers agree to charge a price of ​$ per club. This would result in a surplus of nothing thousand clubs ​(Enter your response as an integer.​)

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Suppose the demand function​ (D) for golf clubs​ is: Q​P, where P is the price paid by consumers in...
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