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1.) Use the information on the kumquat market in the following table to answer the questions. (Quantities are given in millions of crates per year.)
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Use the information on the kumquat market in the following table to answer the questions. (Quantities are given in millions of crates per year.) Price Quantity Quantity (Per Crate) Demanded Supplied 510 140 40 15 130 80 20 120 120 25 110 160 30 100 200 35 90 240 The equilibrium price is $ and the equilibrium quantity is million crates. (Enter your responses as integers.)Use the information on the kumquat market in the following table to answer the questions. (Quantities are given in millions of crates per year.) Price Quantity Quantity (Per Crate) Demanded Supplied $10 120 20 15 110 60 20 100 100 25 90 140 30 80 180 35 70 220 The equilibrium price is $ and the equilibrium quantity is million crates. (Enter your responses as integers.)Step by Step Solution
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