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Mkt dd is P=300-Q nd competitive conditions prevail...the short run supply curve is P= -180+5Q...long run supply curve is P=60 + 2Q.find initial short run nd long run eqm...are they same???
Now suppose mkt demand at every priceis doubled...what is new mkt dd curve??find new eqbms...
If a price ceiling is imposed at old eqbm estimate shortage...
I will be really grateful if somebdy could do these questions...
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