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The inverse supply equation for clay pots is P=0.5QS+1; the inverse demand equation is P=2QD+
15. Quantity is in thousands of units. A . Calculate the equilibrium price and quantity. B. Draw the
demand and supply curves (label the axis, vertical intercept, horizontal intercept, consumer
surplus, and producer surplus) C. Calculate consumer surplus and producer surplus.

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The inverse supply equation for clay pots is P05QS+1 the .pdf

  • 1. The inverse supply equation for clay pots is P=0.5QS+1; the inverse demand equation is P=2QD+ 15. Quantity is in thousands of units. A . Calculate the equilibrium price and quantity. B. Draw the demand and supply curves (label the axis, vertical intercept, horizontal intercept, consumer surplus, and producer surplus) C. Calculate consumer surplus and producer surplus.