Consider the market for gasoline Suppose the market demand and supply curves are as given below….

Consider the market for gasoline Suppose the market demand and supply curves are as given below. In each case, quantity refers to millions of ihres of gasoline per month price is the price perire in Demand: P-300 – 160 Supply P 12040 Compute the equilibrium price and quantity The equilibrium quantity is 60 million tres(Enter your response rounded to one decimal place) The equilibrium price is cents per tre (Enter your response rounded to the nearest cent)

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