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3. Given the supply equation for a manufacturer's product is p= 2q +2.5, and the demand 3 65 2 equation is p= 9 +12. 65

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3. Given the supply equation for a manufacturer's product is p= 2q +2.5, and the demand 3 65 2 equation is p= 9 +12. 65 Determine the equilibrium price if the company is given a government subsidy of 50 cents per unit

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