The demand and supply for orange juice are described by: $3.3 = -1.6Qd + 8.5 and $3.3
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Question:
The demand and supply for orange juice are described by:
$3.3 = -1.6Qd + 8.5 and $3.3 = 0.9Qs + 1.5
Calculate the surplus or shortage and enter the answer using 1 decimal place.
Expert Answer:
To calculate the surplus or shortage of orange juice we need to first solve for the equilibri... View the full answer
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