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Advanced Analysis: Refer to the following table, in which Q d is the quantity of loonies demanded, P is the dollar price of loonies, Q

Advanced Analysis: Refer to the following table, in which Qd is the quantity of loonies demanded, P is the dollar price of loonies, Qs is the quantity of loonies supplied in year 1, and Qs' is the quantity of loonies supplied in year 2. All quantities are in billions. Assume the exchange rate is fixed against the dollar at 120 dollars = 1 loonie.

Qd

P

Qs

Qs'

40 135 120 80
60 130 100 60
80 125 80 40
100 120 60 20

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