Mathematics · Algebra
Given the demand equation D = 12 - P and the supply equation S = -3 + 4P, find the equilibrium price (P) and quantity.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Price = 4; Quantity = 12
- 2Price = 3; Quantity = 12
- 3Price = 3; Quantity = 9✓
- 4Price = 3; Quantity = 6
Correct answer
Price = 3; Quantity = 9
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