Question
The Following table shows the demand and supply schedule for pineapple fruits Quantity Demand kg price($) Quantity Supplied in kg 26 5 4 23 10
The Following table shows the demand and supply schedule for pineapple fruits
Quantity Demand kg price($) Quantity Supplied in kg
26 5 4
23 10 9
18 15 14
14 20 18
9 25 23
4 30 26
a.Plot the supply and demand curves.
b.Identify the equilibrium price and quantity
c.What will happen if government passed a law that no seller should sell bellow a price of $25.
d.Explain the market situation at a price of 5.
e.If quantity demanded rises by 50 % at each and every price, what will be the new equilibrium price and quantity? Indicate this change on the original graph above.
f.List factors that would have caused a change in question E above.
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