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Using the demand and supply figures in Table 1 below, construct a suitably labeled demand and supply diagram, and clearly identify the equilibrium price and quantity.
Market Price for a Packet of Oatcakes
Quantity Supplied
Quantity Demanded
90p
1,500
10,000
£1.00
3000
8,500
£1.50
4,500
7,000
£2.00
£2.50
3,000
£3.00
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