The market for packs of AA batteries during a typical week in Tulsa, Oklahoma, is described...
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The market for packs of AA batteries during a typical week in Tulsa, Oklahoma, is described in the table below. Market for AA Batteries in a Typical Week Quantity of Batteries Quantity of Price (dollars) Demanded Batteries Supplied (packs) (packs) $20 80 140 18 90 120 16 100 100 14 110 80 12 120 60 10 130 40 8 140 20 6 150 Instructions: Enter your answers as a whole number. a. During a typical week in Tulsa, Oklahoma, what are the equilibrium price and quantity in the market for AA batteries? P= $ Q= 80 packs In weeks when tornadoes threaten Tulsa, Oklahoma, the demand for packs of AA batteries Increases as shown in the table below. Market for AA Batteries with Tornado Threat Demanded (packs) New Quantity of Batteries Supplied (packs) New Quantity of Batteries Price (dollars) $24 80 170 22 90 150 28 100 130 18 110 110 16 120 90 14 130 70 12 140 50 10 150 30 8 160 10 6 170 -10 b. What are the equilibrium price and quantity of AA batteries in a week with a tornado threat? P= $1 Q= 120 90 packs Suppose that city leaders want to prevent the price of AA batteries from rising when tornadoes threaten Tulsa, Oklahoma. They Impose a price celling of $16 for packages of AA batteries. c. This price ceiling of $16 per pack [(Click to select) the AA battery market during a typical week. d. What are quantity demanded and quantity supplied with the price celling in effect during the weeks when tornadoes threaten Tulsa? Qd=[ Qs= packs packs e. As a result of the price ceiling O quantity supplied exceeds quantity demanded by 30 packs of AA batteries In a week when tornadoes threaten Tulsa, Oklahoma. O quantity supplied equals quantity demanded for packs of AA batteries in a week when tornadoes threaten Tulsa, Oklahoma. O quantity supplied exceeds quantity demanded by 90 packs of AA batteries in a week when tornadoes threaten Tulsa. Oklahoma. O quantity demanded exceeds quantity supplied by 30 packs of AA batteries in a week when tornadoes threaten Tulsa, Oklahoma. The market for packs of AA batteries during a typical week in Tulsa, Oklahoma, is described in the table below. Market for AA Batteries in a Typical Week Quantity of Batteries Quantity of Price (dollars) Demanded Batteries Supplied (packs) (packs) $20 80 140 18 90 120 16 100 100 14 110 80 12 120 60 10 130 40 8 140 20 6 150 Instructions: Enter your answers as a whole number. a. During a typical week in Tulsa, Oklahoma, what are the equilibrium price and quantity in the market for AA batteries? P= $ Q= 80 packs In weeks when tornadoes threaten Tulsa, Oklahoma, the demand for packs of AA batteries Increases as shown in the table below. Market for AA Batteries with Tornado Threat Demanded (packs) New Quantity of Batteries Supplied (packs) New Quantity of Batteries Price (dollars) $24 80 170 22 90 150 28 100 130 18 110 110 16 120 90 14 130 70 12 140 50 10 150 30 8 160 10 6 170 -10 b. What are the equilibrium price and quantity of AA batteries in a week with a tornado threat? P= $1 Q= 120 90 packs Suppose that city leaders want to prevent the price of AA batteries from rising when tornadoes threaten Tulsa, Oklahoma. They Impose a price celling of $16 for packages of AA batteries. c. This price ceiling of $16 per pack [(Click to select) the AA battery market during a typical week. d. What are quantity demanded and quantity supplied with the price celling in effect during the weeks when tornadoes threaten Tulsa? Qd=[ Qs= packs packs e. As a result of the price ceiling O quantity supplied exceeds quantity demanded by 30 packs of AA batteries In a week when tornadoes threaten Tulsa, Oklahoma. O quantity supplied equals quantity demanded for packs of AA batteries in a week when tornadoes threaten Tulsa, Oklahoma. O quantity supplied exceeds quantity demanded by 90 packs of AA batteries in a week when tornadoes threaten Tulsa. Oklahoma. O quantity demanded exceeds quantity supplied by 30 packs of AA batteries in a week when tornadoes threaten Tulsa, Oklahoma.
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Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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