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Answer the question based on the following demand and supply schedules for sacks of rice: Price (Php) Quantity demanded Quantity supplied 1,000 395 200 1,100 375 250 1,200 350 290 1,300 320 320 1,400 280 345 1,500 235 365 An increase in the cost of labor lowers the fquantity supplied by 65 sacks of rice at each price. The new equilibrium price would be