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Paper 2 - Exam Practice Questions

Paper 2 - Exam Practice QuestionsThe following questions refer to the demand and supply schedules for a particular good shown below.Price($)Demand(’000 units)Supply(’000 units)5100601090701580802070902560100Answers(a) Identify the equilibrium price. [1]$15 (the price where demand equals supply at 80 units).

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