4 Rose sellers know that Mothers Day is next weekend and they expect the price to be...

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4 Rose sellers know that Mother’s Day is next weekend and they expect the price to be higher, so they withhold 60 roses from the market this weekend.

What is the price this weekend?

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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4 Rose sellers know that Mothers Day is next weekend and they expect the price to be...

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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