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please help this demand and supply questions with steps, thank you 1. The supply,r and demand sets for a market are 5' = {(m) I?

please help this demand and supply questions with steps, thank you

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1. The supply,r and demand sets for a market are 5' = {(m) I? - 3v = 5} and D = {($10} |p+ 2q=16}- [a) Find the equilibrium price and quantity for this market. (b) The cobweb model dictates that, for t 2 1, a market will evolve according to the formulae s: = qSUkll and a: = pwsl- Find a recurrence equation which describes how the price changes with time if this market evolves in accordance with the cobweb model. If the initial price is ten, solve this equation and describe how pt behaves as t increases. Also nd qt as an explicit function of t

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