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10. The government has implemented a new policy to support the price of seed cotton at $36.70/cwt. (A cwt means hundred weight or 100 pounds

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10. The government has implemented a new policy to support the price of seed cotton at $36.70/cwt. (A cwt means "hundred weight" or 100 pounds but that is not important for the answer). If the seed cotton market equilibrium price is $20.50/cwt, the equilibrium quantity of seed cotton is 452.432 million cwt, the elasticity of supply is 0.25, and the elasticity of demand is -0.75, then what is the new quantity supplied and the new quantity demanded of seed cotton at the support price? How much seed cotton would the government need to buy to keep the price at the support level

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