Question 2 Based on the graph shown below: Price a) $7 $4 $2 X 10 20 Supply 30 Demand Quantity Determine the equilibrium
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Question 2 Based on the graph shown below: Price a) $7 $4 $2 X 10 20 Supply 30 Demand Quantity Determine the equilibrium
Question 2 Based on the graph shown below: Price a) $7 $4 $2 X 10 20 Supply 30 Demand Quantity Determine the equilibrium price and quantity? b) If price increase to $7, explain the changes that happen in the market.