The following table shows the aggregate supply and demand data for a country. Price Aggregate Aggregate Level Demand Supply 100 10,000 4,000 200 9,000 5,000
The following table shows the aggregate supply and demand data for a country. Price Aggregate Aggregate Level Demand Supply 100 10,000 4,000 200 9,000 5,000 300 8,000 5,000 400 7,000 7,000 500 6,000 8,500 600 5,000 9,000 700 4,000 19,500What is the equilibrium output? a) 8,000 b) 4,000 O c) 7,000 O d) 9,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
