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Suppose that the demand schedule for recreational boats in the small island nation of Natura is given by = 50-0.05Q and the supply schedule of

Suppose that the demand schedule for recreational boats in the small island nation of Natura is given by= 50-0.05Qand the supply schedule of these boats is given by= 2 + 0.02Q.andrepresent the price of new boats in thousands of dollars, andQis the quantity demanded per year.

(a) Calculate the market equilibrium quantity of recreational boats.

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