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    Microeconomics Theory Study Set 1
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    Exam 2: Supply and Demand
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    Suppose the Market for Potatoes Can Be Expressed as Follows
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Suppose the Market for Potatoes Can Be Expressed as Follows

Question 183

Question 183

Essay

Suppose the market for potatoes can be expressed as follows:
Supply: Suppose the market for potatoes can be expressed as follows: Supply:    = -20 + 10p Demand:    = 400 - 20p Solve for the equilibrium price and quantity.
= -20 + 10p
Demand: Suppose the market for potatoes can be expressed as follows: Supply:    = -20 + 10p Demand:    = 400 - 20p Solve for the equilibrium price and quantity.
= 400 - 20p
Solve for the equilibrium price and quantity.

Correct Answer:

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