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(3 marks) Demand: P = 40 - 0.2 Q Supply P = 10 + 0.3 Q a) Find the market equilibrium P and Q. b)

(3 marks) Demand: P = 40 - 0.2 Q Supply P = 10 + 0.3 Q a) Find the market equilibrium P and Q.

b) Say that supply triples and find the new equilibrium.

c) Find the point where D= -2 on the above demand curve.

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