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Answer the following questions based on demand and supply for pumpkins in the Philadelphia area. Note: These are extra fancy carving...
Answer the following questions based on demand and supply for pumpkins in the Philadelphia area.
Note: These are "extra fancy" carving pumpkins.
Demand Price Supply
110 $ 1.00 15
80 1.50 25
75 2.00 40
50 2.50 50
20 3.00 70
The equilibrium price of pumpkins in this market is