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TULTIC VOIR.NUULUU UUUPCI I TIULTIC VOIR Score: 0 of 1 pt 5 of 14 (4 complete) HW Score: 9.52%, 1.33 of 14 pts Concept Questi

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Answer #1

Since equilibrium will be determined by the intersection of demand and supply curve.

Hence equilibrium price is $500 and

equilibrium quantity is over the range of 4 to 5 units.

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