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The following relations describe monthly demand and supply relations for dry cleaning services in the metropolitan area? Qd = 500000 - 50000P Qs = -100000

The following relations describe monthly demand and supply relations for dry cleaning services in the metropolitan area? Qd = 500000 - 50000P Qs = -100000 + 100000P A, Calculate the market equilibrium price/output combination, show graphically B, Calculate the surplus or shortage when P=3 and P= 6 C, Calculate price elasticity of demand at equilibrium price

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