What is the equilibrium price for the demand and supply conditions described in Problems 1 and 2?

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What is the equilibrium price for the demand and supply conditions described in Problems 1 and 2? How much corn is bought and sold? What if the price of diesel fuel increases to $4.50 per gallon? Show the equilibrium price before and after the change in a graph.
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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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