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Draw Demand curve and Supply curves on the same graph taking price on the vertical axis and quantity demanded and supplied on the horizontal axis.
- Draw Demand curve and Supply curves on the same graph taking price on the vertical axis and quantity demanded and supplied on the horizontal axis.
- Determine equilibrium price and the equilibrium quantity demanded and supplied.
- Would price $10 create a shortage or surplus and for how many units?
- What is likely to happen to the demand of Ground Beef if income of the people increases? Please explain your answer.
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Economics
Authors: Roger A. Arnold
11th edition
1133561675, 978-1133561675
