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There are 50 consumers and 50 sellers in the market. Every consumer has the same inverse demand function for apple, p=3-q and every seller has
There are 50 consumers and 50 sellers in the market. Every consumer has the same inverse demand function for apple, p=3-q and every seller has the same inverse supply function, p=2q. We assume the competitive market. Then derivethe inverse market demand functionandthe inverse market supply function. Calculate theequilibrium quantity,equilibrium price.
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