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Given: QD = 100 - P and QS = P - 20, what is the market equilibrium price (P) and quantity (Q)? [5 points] b.

Given: QD = 100 - P and QS = P - 20, what is the market equilibrium price (P) and quantity (Q)? [5 points] b. Suppose the market changes to: QD = 100 - P and QS' = 2P - 2. Calculate the new market equilibrium price (P) and quantity (Q). [5 points]

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Question

Given: QD = 100 - P and QS = P - 20, what is the market equilibrium price (P*) and quantity (Q*)? [5 points] b.

Given: QD = 100 - P and QS = P - 20, what is the market equilibrium price (P*) and quantity (Q*)? [5 points] b. Suppose the market changes to: QD = 100 - P and QS' = 2P - 2. Calculate the new market equilibrium price (P**) and quantity (Q**). [5 points]

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Recommended Textbook for

Agricultural Economics

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Given: QD = 100 - P and QS = P - 20, what is the market equilibrium price (P) and quantity (Q)? [5 points] b.

Given: QD = 100 - P and QS = P - 20, what is the market equilibrium price (P) and quantity (Q)? [5 points] b. Suppose the market changes to: QD = 100 - P and QS' = 2P - 2. Calculate the new market equilibrium price (P) and quantity (Q). [5 points]