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Question: 1 the market for dvds has supply and demand curves...

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1. The market for DVDs has supply and demand curves given by Ps2Qand 42-Q respectively. a. What quantity of DVD at what price will be sold in equilibrium? b. If prices for DVDs are $14, do we expect to have an excess demand or excess supply in this market? Quantify this excess supply or excess demand. Illustrate the market for DVDs in a graph using the space below. Highlighting the market in equilibrium and when prices for DVDs are $14. c.

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