Consider a perfectly competitive market for apples, with the following demand and supply equations: D: P = 2,000 – Qd S: P = Qs – 1,990 equilibrium price: $5 equilibrium quantity: 1995 A farmer, Jodi, faces the following marginal cost: MC = q – 2, and is making profit in the shortrun. What is the equilibrium price and quantity for farmer Jodi?

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