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Consider the following supply and demand schedule for candy bars:
Price ($)
Supply (millions of candy bars)
Demand (millions of candy bars)
0.25
2
14
0.50
6
12
0.75
10
1.00
8
1.25
18
1.50
22
4
1.75
26
Sketch the market supply and demand curves. Show the equilibrium quantity and price.
Graphically show the producer surplus and consumer surplus in the market for candy bars.
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