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The next table represents supply and demand for good A Price Demand Supply $3000 5000 10000 $2500 5500 7000 $2000 6500 6500 $1500 8000 6000 $1000 10000 5000 $500 13000 4000 a) What is the market equilibrium price and quantity for good A? b) What happens if the price for good A is fixed at $1500? How many units will be sold? c) What happens if the price is fixed at $2500? d) The next table represents demand for good B. For which product demand is more elastic? Price Demand $3000 6300 $2500 6400 $2000 6500 $1500 6600 $1000 6700 $500 6800
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