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Find the equilibrium quantity and price

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Reference no: EM13878882

1. Why are spatial equilibrium models particularly applicable for agricultural and food industry analysis?

2. Find the equilibrium quantity and price by solving the following supply and demand system algebraically and by using Solver to maximize the difference between con- sumer and producer surplus.
pd = 1,000 - 100qd,
ps = 25qs.

Reference no: EM13878882

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