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1. Following is the schedule of quantities that would be supplied and demanded at various prices for oranges. Price Quantity Demanded Quantity Supplied $10.00 200

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1. Following is the schedule of quantities that would be supplied and demanded at various prices for oranges. Price Quantity Demanded Quantity Supplied $10.00 200 600 9.00 250 550 8.00 300 500 7.00 350 450 6.00 400 400 5.00 450 350 4.00 500 300 3.00 550 250 2.00 600 200 a. Graph the supply and demand curves. Identify the market equilibrium price. (2 marks)

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