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Read the following information to answer the questions that follow: The market for bananas is given by the following equations: P = 100 - 2.5Qd

Read the following information to answer the questions that follow:

The market for bananas is given by the following equations:

P = 100 - 2.5Qd

P = Qs

1 What is the price elasticity of the supply of bananas?

2 Evaluate the market for bananas at a price of 20 and discuss whether there will be an equilibrium or not.

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