[Steps Shown] The demand for tickets to Valley Fair Amusement Park is Xd=5000-120 P, while the supply of tickets is Xs=80 P. What is the equilibrium price,
Question: The demand for tickets to Valley Fair Amusement Park is \(\mathrm{Xd}=5000-120 \mathrm{P}\), while the supply of tickets is \(\mathrm{Xs}=80 \mathrm{P}\). What is the equilibrium price, \(\mathrm{P}^{\circ}\), and quantity, \(\mathrm{X}^{*}\), for tickets to Valley Fair? ( 10 points)
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