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Domestic demand and supply for wheat are given by: Qd = 1000 - 20P Qs = 500 + 30P Suppose that supply declines by 20

Domestic demand and supply for wheat are given by: Qd = 1000 - 20P Qs = 500 + 30P Suppose that supply declines by 20 percent. The equilibrium price will increase by: O A. $3.64 O B. $5.25 O C. $2.00 O D. $8.46

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