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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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