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Answer to Question #67169 in Macroeconomics for soumedha Ramkhelawon

Question #67169
Your fruit stall has 100 peaches that must be sold at once. your supply curve for peaches is vertical. From past experience, 100 peaches are demandes when price is £1.
The demand elasticity is -0.5. You discover 10 of your peaches are rotten and cannot be sold. Draw the new supply curve. What is the equilibrium price? Explain your answers in details.
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