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I would like to get answers and explanation. Exhibit 3-9 Demand and supply curves Price per unit (dollars) O 814 20 3540 Quantlty In Exhibit

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I would like to get answers and explanation.

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Exhibit 3-9 Demand and supply curves Price per unit (dollars) O 814 20 3540 Quantlty In Exhibit 3-9, if the market price is $20, 0 this market will be in equilibrium. 0 a shortage of 27 units will result. 0 the price is above the equilibrium price. 0 a surplus of 26 units will result. 0 a shortage of 26 units will result. Exhibit 3-8 Demand and supply data for Video games Quantity Demanded of Video games Quantity Supplied of Video games 900 50 00 750 700 650 610 550 U'l U'I \\] 0 U1 U1 0 .b. U1 4:. O In Exhibit 3-8, if the price of video games was currently $45, there would be an of _ video games in this market. 0 excess demand; 90 O excess demand; 500 O excess supply; 100 O excess supply; 600 O excess demand; 100 Exhibit 3-15 Supply and demand curves for good X D . S 2.00 Price 1.50 per unit (dollars) 1.00 50 S 0 100 200 300 400 Quantity of good X (units per time period) In the market shown in Exhibit 3-15, the equilibrium price and quantity of good X are: O $0.50, 250. O $2.00, 300. O $2.00, 100. O $1.00, 200.Exhibit 3-12 Supply and demand data Quantity Quantity Demanded Supplied 250 150 200 00 150 50 100 300 In Exhibit 3-12, which of the following occurs at a price of $1.00? 0 A shortage puts a downward pressure on price. 0 Quantity demanded exceeds quantity supplied, putting upward pressure on price. 0 Quantity supplied exceeds quantity demanded, putting upward pressure on price. 0 The surplus would be so small that there would be only slight upward pressure on price. Exhibit 5-2 Price and quantity demanded data Price Quantity Demanded 5 20 25 30 35 40 Using Exhibit 5-2, what is the price elasticity of demand when the price falls from five dollars to four? O 1. O 1.25. O 0.8. O 2.0. O 0.4

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