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Suppose that the demand and supply curve for potatoes can be expressed as: Supply: Q = -20 + 10p Demand: Q = 400 - 20p
Suppose that the demand and supply curve for potatoes can be expressed as:
Supply: Q = -20 + 10p Demand: Q = 400 - 20p
- Draw the demand and supply curve, making sure you label the x and y intercepts for each line.
- Calculate the equilibrium P and Q (show your steps) in the market for potatoes.
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