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If the inverse demand curve for apples is pd=210-2q and the inverse supply is ps=2+6q, where q is in 100,000s, what is the equilibrium price and quanity? suppose the price of pesticides increases so that the inverse supply curve becomes ps=4+6q, what is the new equilibrium price and quantity? what is the arc price elasticity of demand.

Microeconomics, Economics

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