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Problem 3. Market for teddy bears (40 points) The market for teddy bears is a competitive market. The industry demand and supply curves are P=200-0.2xQd

Problem 3. Market for teddy bears (40 points) The market for teddy bears is a competitive market. The industry demand and supply curves are P=200-0.2xQd and P=100+0.3xQs, respectively. a. Find the market's equilibrium price and output

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