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  3. 2 this question uses the algebraic method of determining equilibrium...

Question: 2 this question uses the algebraic method of determining equilibrium...

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2. This question uses the algebraic method of determining equilibrium from Appendix 3A. Suppose the monthly demand and supply for tablets are given by the following equations: P: 500-0.000d Demand Curve P-200+0.00050 Supply Curve a. Use the supply and demand curves given above to solve for the equilibrium lev- els of price and quantity. Determine the price elasticity of demand and supply n equilibrium. (10 marks) also graph the equation.

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