Math Problem Statement

Solution

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Math Problem Analysis

Mathematical Concepts

Linear equations
Demand and supply functions
Slope-intercept form

Formulas

Q = mP + c (Demand function)
P = 5Q + 3000 (Supply function)
Slope formula: m = (Q2 - Q1) / (P2 - P1)

Theorems

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Suitable Grade Level

College/University-level Economics or Mathematics