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Suppose in 2018, the demand curve for gas was Qd = 50 - 10 * P. And the supply curve was Qs = 20 +
Suppose in 2018, the demand curve for gas was Qd = 50 - 10 * P. And the supply curve was Qs = 20 + 2 * P. Here P is gasoline price ($/gallon). Due to some factors, the supply curve of gas line now changes to Q's = 20 + 5 * P. Then how much was the original equilibrium gas price and how much is the new equilibrium gas price.
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