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Suppose that there are 100 identical firms in the pencil industry (including Ledbetter). Complete the table at the right by determining total quantity supplied at

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Suppose that there are 100 identical firms in the pencil industry (including Ledbetter). Complete the table at the right by determining total quantity supplied at the various prices. 18. What is total quantity supplied at a market price of $7? Price ($) 1 2 3 4 5 6 7 Quantity Quantity Demanded Supplied (Cases) (Cases) 900 850 800 750 700 650 600 19. What is the short run equilibrium price in this market

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