[Solution Library] Assume the market for oil is perfectly competitive, with the following market demand and supply curves: Q D = 100 - P Q S = -50 + 2P
Question: Assume the market for oil is perfectly competitive, with the following market demand and supply curves:
Q D = 100 - P Q S = -50 + 2P
- Find the equilibrium price and quantity for this market.
- Calculate consumer and producer surplus in this competitive equilibrium.
Deliverable: Word Document 
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