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Consider the following supply and demand diagram: 30 a) What is the equilibrium price? b) What is the equilibrium quantity? c) What is the consumer

Consider the following supply and demand diagram: 30 a) What is the equilibrium price? b) What is the equilibrium quantity? c) What is the consumer surplus at the equilibrium price and quantity? d) Fill in the blank: suppose that a government mandate sets the price at $25. At this price, there would be [BLANK]

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