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CORO Problem Solving: / Answer all of them/ (50 Points) 1). Market Equilibrium. Suppose you are the manager of SOYBEAN and that the demand and
CORO Problem Solving: / Answer all of them/ (50 Points) 1). Market Equilibrium. Suppose you are the manager of SOYBEAN and that the demand and supply for soybean in Maryland were given by the following equations: Demand: Of = -2p + 20 Supply = 2P- 8 a, Find the equilibrium price and quantity for the soybean market (show your calculation "work and exact graph). b. What price will generate surplus? What price will generate shortage? Explain both cases with the help of the graph in part (a)
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