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Area under the line up to that quantity level

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Reference no: EM131415890

Suppose that the demand line in a small market is the same as in problem 1. Suppose that it was determined that the supply in the market can be written as:

Qs = 200 + 3P. 

A. Solve for P, and give the y-intercept & slope [change in P/change in Q] of the line. 

B. If Qs = 300, what is the area under the line up to that quantity level?

Reference no: EM131415890

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