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Question 7 [15 points] The demand and supply for strawberries in Pacifico are as follows: a) Suppose that the supply of strawberries increase by 50 percent. Find the new quantity supplied in the table below. Quantity Demanded Initial Quantity Supplied New Quantity Supplied Price (S) 320 100 120 140 160 180 200 4.25 4.5 4.75 280 260 240 220 200 5.25 5.5 b) What are the equilibrium price and equilibrium quantity for the initial supply? Equilibrium Price$o Equilibrium Quantity c) What are the equilibrium price and equilibrium quantity for the new supply? Equilibrium Price $0 Equilibrium Quantity Official Time: 15:10:13 SUBMIT AND MARK
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deM a rde.al 、nit, 어 $4olieィ go 4.7S 26 16、 Supplied fn the initia」 (apply nce cnti1y 2-4ว

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