Consider the following demand and supply functions for good X:

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Consider the following demand and supply functions for good X:

Demand: Qd = 800 – 55P

Supply: Qs = 45P - 200

a. Find the inverse demand function and the inverse supply function.
b. Find the equilibrium price and quantity in this market.
c. Sketch the market for good X.

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Consider the following demand and supply functions for good X:
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