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The Supply and Demand for Oranges Market for Florida Oranges 50 -- I Price 45 __ (Dollars per box) Quantity Quantity Supplied 40 __ Demanded

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The Supply and Demand for Oranges Market for Florida Oranges 50 -- I Price 45 __ (Dollars per box) Quantity Quantity Supplied 40 __ Demanded 500 (Millions of boxes) 0 3? Supply ( Millions of boxes ) o 35 .D g 30 2 E 25 - _ + B I Q 20 -- I Demand 1\" I 2 n: o. 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of boxes) In this market, the equilibrium price is per box, and the equilibrium quantity of oranges ES million boxes. For each price listed in the following table, determine the quantity of oranges demanded, the quantity of oranges supplied, and the direction of pressure exerted on prices in the absence of any price controls. Price Quantity Demanded Quantity Supplied (Dollars per box) ( Millions of boxes) (Millions of boxes) Pressure on Prices 20 S S v so S S v

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