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Consider a perfectly competitive market, with a market demand of D(p) = 100 2p and an industry supply of S(p) = 2p. 1. What is

Consider a perfectly competitive market, with a market demand of D(p) = 100 2p and an industry supply of S(p) = 2p. 1. What is the price and quantity that clear the market? 2. What is the implied consumer surplus and producer surplus?

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