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Consider the following demand and supply equations for sugar: Qd : 1,000 1,000P Q3 : 800 + 1, 000P where P is the price of

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Consider the following demand and supply equations for sugar: Qd : 1,000 1,000P Q3 : 800 + 1, 000P where P is the price of sugar per pound and Q is the quantity of sugar in thousands of pounds. The equilibrium price is $ , and the equilibrium quantity is thousand pounds

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