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2) [1.5 points] The market for cranberries in Wisconsin has the following demand and supply functions: QD = 160 - 20P Qs = 80P -

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2) [1.5 points] The market for cranberries in Wisconsin has the following demand and supply functions: QD = 160 - 20P Qs = 80P - 240 where P represents price per lb. and Q, and Qs are in hundred thousand Ibs. Find the equilibrium price P* and quantity Q* in Wisconsin's market for cranberries

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