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Question 2: Equilibrium price
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Added on 2022/12/12
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AI Summary
1000 – 250P = 1000-250(2.5) = 375 bags per month 150P = 150(2.5) = 375 bags per month Number of bags per month Demand Curve, P= (1000-Q)/(250) Supply Curve, P= Q/150 0 4.00 0.00 75 3.70 0.50 150 units 3.40 1.00 225 3.10 1.50 300 2.80 2.00 375 2.50 2.50 450 2.20 3.00 525 1.90 3.50 600 1.60
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