A. Daily demand curve for potato is Demand: Q = 1500 − 15P B. Long-run supply curve for potato is Q = 12P − 120  Note:  QD demand in kilos per day and P is price per kilos.  Question:  1. What is the long-run equilibrium Price and Quantity? 2. Based on your answers in (1), what is consumer surplus at this equilibrium? What is producer surplus at this equilibrium?

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