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The following table shows the demand and supply curve for cookies. Supply and Demand Schedule of Cookies Price (cents) Quantity of Cookies Demanded Quantity of
- The following table shows the demand and supply curve for cookies.
Supply and Demand Schedule of Cookies
Price (cents) | Quantity of Cookies Demanded | Quantity of Cookies Supplied |
0.70 | 10 | 200 |
0.60 | 20 | 180 |
0.50 | 40 | 160 |
0.40 | 70 | 140 |
0.30 | 110 | 110 |
0.20 | 160 | 70 |
0.10 | 240 | 10 |
- Plot the demand and supply curves for cookies.
- If the quantity demanded increases by 70 cookies at every price, what is the equilibrium price?__________
- If the quantity demanded increases by 70 cookies at every price, what is the equilibrium quantity? __________
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