HL exam practice: Equilibrium quantity
A school IB Economics HL Paper 3 practice shows equilibrium price \(P=14\), demand \(Q_d = 149 - 6P\), and supply \(Q_s = 28 + 8P\). Calculate the traded quantity from the demand function and interpret it. Enter the answer and choose the interpretation that best matches the HL economic evidence.
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Worked practice: economic evidence and answer
Identify the economic evidence first, then state the result and interpretation.