The competitive market for economics textbooks has a demand function given by Qd = 81 - 2P and a supply function given by Qs = 3 + P. What is the price of textbooks in the market equilibrium? [Round your answer to 2 decimals

In a competitive market the demand curve is given by P = 120–2q and supply by P = q. What are the equilibrium price and quantity traded?Group of answer choicesP* = 60, q* = 60P* = 40, q* = 80P* = 40, q* = 40P* = 20, q* = 40None of the above.

The competitive market for bicycles has a demand function given by Qd = 444 - 2P and a supply function given by Qs = 2P. What is the quantity of bicycles traded in the market equilibrium?[Round your answer to 2 decimals (e.g. 24.03)]

The demand and supply functions for different firms are given belowi) Qd = 200 – 2PQs= - 20 + 2Pii) Qd = 51 – 3PQs = -4 +8PDetermine the equilibrium price and equilibrium quantity for each firm

In a competitive market the demand and supply curves are as follows:Demand: Qd = 143 – 2PSupply:    Qs = P/2 - 8.What is the total surplus (TS) in the competitive market equilibrium? [Round your answer to 1 decimal place (e.g. 24.3)]

Consider a market with the following demand and supply curves:Demand: Qd = 522 - 5PSupply:    Qs = P + 46What is the price elasticity of demand at the market equilibrium? [Pay attention to the sign and round your answer to 2 decimal places.]