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Please upload a handwritten answer 2. A market consists of 15 sellers each with an individual supply function q5{p) = p f 2, and two

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2. A market consists of 15 sellers each with an individual supply function q5{p) = p f 2, and two buyers with individual demands qf{p) = 200 %p and qp) = 400 2p. (a) Construct the aggregate demand and aggregate supply in this market. [b] Suppose that a social planner chooses for this market to produce and consume exactly 15 units of this good. What is the total surplus achievable at this quantity? [we will discuss this concept more on Thesday) (c) Solve for a competitive equilibrium price and quantity in this market. (d) Solve for the resulting consumer and producer surplus in equilibrium

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