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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

  1. Draw the demand and supply curve, making sure you label the x and y intercepts for each line.
  2. Calculate the equilibrium P and Q (show your steps) in the market for potatoes.

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