5. You have been asked to analyze the world market for wheat. You have estimated the following...
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5. You have been asked to analyze the world market for wheat. You have estimated the following supply and demand curves: Qs 440 +165P Qd = 1600-12P
(a) Calculate the equilibrium price and quantity.
(b) Calculate the price elasticity of supply and demand at equilib- rium.
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Related Book For 
Fundamentals Of Economics For Business
ISBN: 398357
2nd Edition
Authors: John Smithin ,David Barrows
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