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Farmers in a country usually produced 100,000 bushels of soya beans per year at a market price of #50. The demand for this year is
Farmers in a country usually produced 100,000 bushels of soya beans per year at a market price of #50. The demand for this year is 150,000; this shortage led to a rise in price from #50 to #90. At this price, the demand and supply intersects. The number of unit sold at the new price was 125,000 bushels. What is the equilibrium price and units?
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