Question
33. a. Price $5 $4 $3 $2 $1 b. C. Given the table below, graph the demand and supply curves for flashlights. Make certain
33. a. Price $5 $4 $3 $2 $1 b. C. Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity. d. Quantity Demanded Per Month 6,000 8,000 10,000 12,000 14,000 Quantity Supplied Per Month 10,000 8,000 6,000 4,000 2,000 What is the equilibrium price and the equilibrium quantity? Suppose the price is currently $5. What problem would exist in the market? What would you expect to happen to price? Show this on your graph. Suppose the price is currently $2. What problem would exist in the market? What would you expect to happen to price? Show this on your graph.
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
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