Assume that demand for a commodity is represented by the equ…

Assume that demand for a commodity is represented by the equation P=70−Qd​ Supply is represented by the equation P=−10+3Qs​ Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium Price.  Enter you answer as to the nearest hundredth (0.00) number with no annotations

Assume that demand for a commodity is represented by the equ…

Assume that demand for a commodity is represented by the equation P=70−Qd​ Supply is represented by the equation P=−10+3Qs​ Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium quantity.  Enter you answer as to the nearest hundredth (0.00) number with no annotations