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Suppose the Market for Potatoes Can Be Expressed as Follows

Question 140

Essay

Suppose the market for potatoes can be expressed as follows:
Supply: QS = -20 + 10p
Demand: QD = 400 - 20p
Suppose the government restricts the quantity to 100 units.What will be the price of potatoes?

Correct Answer:

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(1)Find the inverse supply curve: p = 2 ...

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