Math Problem Statement
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Equations
Equilibrium
Graphing
Formulas
Demand Function: P = 25 - 0.5Q
Supply Function: P = 10 + 0.5Q
Equilibrium: 25 - 0.5Q = 10 + 0.5Q
Theorems
Solving linear equations for equilibrium
Graphing linear functions
Suitable Grade Level
High School Economics or Mathematics
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