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Spend about thirty minutes on the essay question. Take time to think about your answer before you begin writing. You may want to begin with

Spend about thirty minutes on the essay question. Take time to think about your answer before you begin writing. You may want to begin with an outline to organize your ideas and to make sure you answer all parts of the essay. (Score for Question 3: _____ of 10 points) 3. What are the equilibrium price and equilibrium quantity in this market? Explain

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