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2. Assume that the demand for handheld calculators depends on consumer income and price as follows: QD = –110 + 0.2Y – 5P. where. QD = quantity demanded (thousands), Y = consumer income (millions), and. P = price (dollars). Supply is assumed to be determined as follows: QS = 50 + 15P. where QS = quantity supplied (thousands). a. ................
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