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2. Suppose the demand curve for a product is given by @ = 300 - 2P + 41, where I is average income measured in
2. Suppose the demand curve for a product is given by @ = 300 - 2P + 41, where I is average income measured in thousands of dollars. The supply curve is Q = 3P - 50. (a) If I = 25, find the market-clearing price and quantity for the product. (b) If I = 50, find the market-clearing price and quantity for the product
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