9. The market for pizza has the following demand and supply schedules: PRICE QUANTITY DEMANDED QUANTITY SUPPLIED

Question:

9. The market for pizza has the following demand and supply schedules:

PRICE QUANTITY DEMANDED QUANTITY SUPPLIED

$4 135 26 5 104 53 6 81 81 7 68 98 8 53 110 9 39 121 Graph the demand and supply curves. What is the equilibrium price and quantity in this market? If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium? If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium?

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: