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Suppose that the supply of lemonade is represented by Q5 = 4UP, where quantity is measured in pints and price is measured in cents per
Suppose that the supply of lemonade is represented by Q5 = 4UP, where quantity is measured in pints and price is measured in cents per pint. Now suppose that the demand for lemonade is QD = 7,000 10P 0.021, where I is income. What are the current equilibrium price and quantity if income is $100,000
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