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Question 1 Consider the market for luxury yachts depicted on the following graph. Consider the market for luxury yachts depicted on the following graph. Price

Question 1

Consider the market for luxury yachts depicted on the following graph.

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Consider the market for luxury yachts depicted on the following graph. Price (thousands of dollars per vacht) 200 Supply 120 Demand 40 0 160 Quantity (thousands of yachts)Price (thousands of dollars per vacht) 200 180 Supply 120 Demand 60 40 0 40 160 Quantity (thousands of yachts)

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