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1. If the demand and supply curve for computers are:
D = 100 - 6P, S = 28 + 3P
Where P is the price of computers, what is the quantity of computers bought and sold at equilibrium?
2. In December, the price of Christmas trees rises and the quantity of trees sold also rises. Is this a violation of the law of demand?
3. A firm charges $800 for its unique word processor. If total revenue is $56,000 in July, how many word processors were sold that month?
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