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Demand - Supply Analysis
An industry's supply and demand curves are given by the following equations:
QD = 2000 - 4P and QS = 6P
A. Determine the equilibrium price (PE) and equilibrium quantity (QE).
B. At a price of $300, will there be a shortage or a surplus, and how large will it be?
C At a price of $100, will there be a shortage or a surplus, and how large will it be?
Thus who are we kidding when we suggest that traditional cultures might somehow achieve immunity from the crushing economic pressure of the North Atlantic Economic Zone
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