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Demand for rental one-bedroom apartments in Aberdeen is given by Q = 500 - P where P is the price of monthly rent in f,

Demand for rental one-bedroom apartments in Aberdeen is given by Q = 500 - P where P is the price of monthly rent in f, and Q is the number of apartments. They supply function is Q = 3P - 300. Assume this market is perfectly competitive. (a) Show the demand and supply curves on a graph. (b) Calculate the price and quantity at the equilibrium. (c) What are the consumer and producers' surplus at the equilibrium

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