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Suppose the market demand and supply are described by the following : Q=400-2p +4i and Q= -100 + 3P Determine the equilibrium price and quantity
Suppose the market demand and supply are described by the following :
Q=400-2p +4i and Q= -100 + 3P
Determine the equilibrium price and quantity of the above market when i=100 and plot the graph demarcating the above results then use the diagrams to explain the difference between the movement along a supply curve and shift of supply curve. mention possible causes of each.
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