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Name: AG BM 102 Lesson 13 Homework A commodity has a demand of Q = 30 - P, and a supply of Q = -4

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Name: AG BM 102 Lesson 13 Homework A commodity has a demand of Q = 30 - P, and a supply of Q = -4 + P. 1. Draw a graph that shows the market equilibrium for each of the following cases: A. a competitive market B. a monopolist sells the product to consumers C. a monopsonist purchases the product from producers. Please label clearly all the curves that you draw, and the prices and quantities for each of the three cases. [Insert images of the three graphs here]

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