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Assume that the market demand for milkshakes is as follows:
Shake(s)
Price($)
0
20.00
800
15.00
1800
12.50
3600
9.15
5000
7.14
6000
6.10
6800
5.40
7400
4.94
7800
4.10
8100
3.00
8300
2.70
In the perfectly competitive market that we have discussed, what would the equilibrium price be?
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