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Assume the following demand and supply equations: Qd: 23- 25p Qs: 11 + 15p (a) If a seller charges a price of 0

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Assume the following demand and supply equations:

Qd: 23- 25p

Qs: 11 + 15p

(a) If a seller charges a price of 0.5 per unit, what will happen? (Show the exact amount of shortage or surplus)

(b) What is the equilibrium price and equilibrium quantity?