1 If the price of a rose is 3, describe the situation in the rose market. Explain...

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1 If the price of a rose is £3, describe the situation in the rose market. Explain how the price adjusts.

The table sets out the demand and supply schedules for roses on a normal weekend

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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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Question Posted: Nov 06, 2024 01:00 AM

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1 If the price of a rose is 3, describe the situation in the rose market. Explain...

Question:

Price Quantity demanded (pounds per rose) Quantity supplied (roses per week) 3.00 150 60 4.00 100 100 5.00 70 130 6.00 50 150

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Economics

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