=+12. The domestic supply and demand curves for hula beans are as follows: Supply: P = 50
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=+12. The domestic supply and demand curves for hula beans are as follows:
Supply: P = 50 + Q Demand: P = 200 - 2Q where P is the price in cents per pound and Q is the quantity in millions of pounds. The U.S. is a small producer in the world hula bean market, where the current price (which will not be affected by anything we do) is 60 cents per pound.
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