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Please refer to the below question: Q2 (3 marks). The demand elasticity for copper is 0.5 and its supply elasticity is 1.5. The equilibrium price

Please refer to the below question:

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Q2 (3 marks). The demand elasticity for copper is 0.5 and its supply elasticity is 1.5. The equilibrium price and quantity are p" = $2 per pound and Q'1 = 12 million metric tons per year, respectively. a. (2 marks). Derive the linear demand function and the linear supply function. h. (1 marks). If the demand for copper increases by 20% and the supply of copper decreases by 20%, what are the new equilibrium price and quantity

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