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(8 points) For the situation above, determine for each market if there is excess demand, excess supply, or the market is in equilibrium (circle the

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(8 points) For the situation above, determine for each market if there is excess demand, excess supply, or the market is in equilibrium (circle the correct answer). If there is excess demand or excess supply, determine how much it is. Market for Good X: Excess Demand = Excess Supply = The market is in equilibrium Market for Good Y: Excess Demand = Excess Supply = The market is in equilibrium

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