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Suppose the supply function for product X is given by Qsx = -50 + 0.5Px - 5Pz.
A. How much of product X is produced when Px = $500 and Pz = $30?
B. How much of product X is produced when Px = $50 and Pz = $30?
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Suppose that a widget market is described by the following supply and demand equations. Supply: Q = 3 P Demand: Q =400 - P a. Solve for the equilibrium price and the
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