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The following equations represent the supply and demand for watches in a particular market:
Q_{d=100-P}QdPQ_s=P-20Qs
=100-?
?=P-20
1)The equilibrium price in this market is $?
2) The equilibrium quantity in this market is?
3) If the price of watches was $80 in this market, then competition among either buyers or sellers would push the price either be up or down towards equilibrium?
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