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Demand equation is as follows: D=0.5-0.5p Supply equation is as follows: S=0.25+0.25p Accurately draw the demand-supply diagram . Find the equilibrium price On the same
Demand equation is as follows:
D=0.5-0.5p
Supply equation is as follows:
S=0.25+0.25p
Accurately draw the demand-supply diagram . Find the equilibrium price
On the same graph indicate
a. Change in the consumer surplus if the price increases one unit
b. Producer surplus if the price increases one unit
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