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The table below shows the demand and supply for fuji apples in Peterborough. Price Quantity Demanded Quantity Supplied 1 Quantity Supplied 2 0 200 120
The table below shows the demand and supply for fuji apples in Peterborough.
Price | Quantity Demanded | Quantity Supplied 1 | Quantity Supplied 2 |
0 | 200 | 120 | |
2 | 190 | 130 | |
4 | 180 | 140 | |
6 | 170 | 150 | |
8 | 160 | 160 | |
10 | 150 | 170 |
. What is the equilibrium price and quantity traded? The equilibrium price is $ _______and the quantity traded is ________. b. Suppose supply increases by 20. Complete the last column in the table above. c. What would be the price and quantity traded at the new equilibrium? The equilibrium price is $ _______ and the quantity traded is __________.
d. . After the increase in supply, at a price of $8 there would be a ________ of ________ units.
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