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The demand for good X is given by Qx = 100 - 2Px and its supply is perfectly elastic at Px=14. The demand for Y
The demand for good X is given by Qx = 100 - 2Px and its supply is perfectly elastic at Px=14. The demand for Y is given by Qy = 350 - 3Py and its supply is perfectly elastic at Py = 18. a) What are the equilibrium market quantities in the two markets? What are the elasticities?
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