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The table below shows the market demand and supply of surgical masks. Quantities are in ('000 boxes) Price ($ per box) 30 25 20 15
- The table below shows the market demand and supply of surgical masks.
Quantities are in ('000 boxes)
Price ($ per box) | 30 | 25 | 20 | 15 | 10 | 5 |
Qtydemanded | 80 | 90 | 100 | 110 | 120 | 130 |
Qtysupplied | 120 | 110 | 100 | 90 | 80 | 70 |
With the information above, draw the Demand and Supply Curves, and find the market equilibrium point.
- Using the graphical method, find the following:
2. the equilibrium price
3. the equilibrium quantity
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