Math Problem Statement

Solution

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Math Problem Analysis

Mathematical Concepts

Linear Equations
Supply and Demand Equilibrium
Algebra

Formulas

Equilibrium: Qd = Qs
Demand function: Qd = 100 - 6P
Supply function: Qs = 30 + 4P

Theorems

Equilibrium Price and Quantity

Suitable Grade Level

Grades 10-12 (High School Economics or Early College)