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17. Given the following supply and demand equations QD = 100 – 5P QS = 10 + 5P a) Determine the equilibrium price and quantity. b) If the government sets a minimum price of $10 per unit, how many units would be supplied and how many would be demanded? c) If the govt. sets a maximum price of $5 per unit, how many units would be supplied and how many would be demanded? d) If the demand increases to Q’D = 200 – 5P Determine the new equilibrium price and quantity.
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