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Part 1 (2.5 points) See Hint Suppose that the demand for textbooks, Qp, is represented by the following equation, where Pis the price of a

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Part 1 (2.5 points) See Hint Suppose that the demand for textbooks, Qp, is represented by the following equation, where Pis the price of a textbook and Qp is the number of textbooks demanded: Qp = 2,500.00 - 20.00P. The supply of textbooks, Qs, is represented by the equation: Qs = -300.00+ 20.00P. The equilibrium price is $ 70 decimal places). (round your answer to two The equilibrium quantity is 1100 (round your answer to two decimal places - for the purposes of this problem, imagine it is possible to sell a fraction of a book). Part 2 (2.5 points) See Hint At the equilibrium price and quantity from Part 1, consumer surplus is $ and producer surplus is $ (round your answers to two decimal places)

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