Question: I need help please. I need to find the supply equation, demand equation, equilibrium price and equilibrium quantity. When milk prices are$3.00 per gallon, the
I need help please. I need to find the supply equation, demand equation, equilibrium price and equilibrium quantity.
When milk prices are$3.00 per gallon, the annual supply for milk in California is50 billion gallons and the annual demand is100 billion gallons. When the price increases to$4.00 per gallon, the annual supply increases to100 billion gallons and the demand decreases to70 billion gallons.
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