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1. Consider a fresh orange juice market, Demand equation: 68 = 50 +2P Supply equation: 2P = 3Q +4 Where P is the price of

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1. Consider a fresh orange juice market, Demand equation: 68 = 50 +2P Supply equation: 2P = 3Q +4 Where P is the price of a soft drink (unit: baht) and Q is the quantity of a soft drink (unit: can). can oforange juice can of orange juice a. Find the equilibrium price and quantity in the market. Show your calculation b. Graph the demand and supply curves showing the equilibrium from a. c. If a can of fresh orange juice is 20 baht, how would the market adjust? Explain your

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