9. Suppose you have the following market: Price 20 18+ 16 14 Supply 12 10 : NA one N Demand 10 20 30 40 50 бо 70 + 80 wa

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9. Suppose you have the following market: Price 20 18+ 16 14 Supply 12 10 : NA one N Demand 10 20 30 40 50 бо 70 + 80 wa

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9. Suppose you have the following market: Price 20 18+ 16 14 Supply 12 10 : NA one N Demand 10 20 30 40 50 бо 70 + 80 wanrin a. At the equilibrium price, calculate the total surplus in the market. b. Do you expect sellers to produce at Q = 50? Or not, why? Explain using no more than 50 words.
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