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Solve the problem. Supply and demand functions, S(x) and D(x), are given for a particular commodity in terms of the level of production x.
Solve the problem. Supply and demand functions, S(x) and D(x), are given for a particular commodity in terms of the level of production x. In each case: S(x) = 4x + 200 and D(x) = -6x + 460 a. For what values of x is there a market shortage? b. For what values of x is there a market surplus? Show all your work.
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