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2. You [mew that the price elasticity of demand is 2 and the price elasticity of supply is 1. Estimate the 9'13 change in equilibrium

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2. You [mew that the price elasticity of demand is 2 and the price elasticity of supply is 1. Estimate the 9'13 change in equilibrium price and quantityr if you expect (a) A 10% increase in the demand. (b) A 10% decrease in the supply. (-3) Both changes to happen concurrently

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