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# Suppose the demand and supply curves for eggs in the United States are given by the following equations:

Suppose the demand and supply curves for eggs in the United States are given by the following equations:
Q,, = 100 - 20P
Qs = 10 + 40P
where Q(; = millions of dozens of eggs Americans would like to buy each year; Q, = millions of dozens of eggs U.S. farms would like to sell each year; P = price per dozen of eggs,

a. Fill in the following table:

(a) Price Quantity Demanded
(in Millions) Quantity Supplied
(in Millions)
\$.50
\$1.00
\$1.50
\$2.00
\$2.50

b. Use the information in the table to find the equilibrium
price and quantity.

c. Graph the demand and supply curves and identify the equilibrium price and quantity.

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