Consider the following demand and supply equations: P = a. Draw a neatly labelled diagram showing the demand and supply curves. b. Find the equilibrium level of price and quantity. c. Suppose this is the demand and supply of apples. List three factors that may change the demand for apples. Explain. List three factors that may change the supply for apples. Explain. 205Q and P = 10 + 2Q.

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