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Use the demand and supply schedules below to answer the following questions. Price of Shoes (per pair) Quantity of Shoes Demanded Quantity of Shoes Supplied
Use the demand and supply schedules below to answer the following questions.
Price of Shoes (per pair) | Quantity of Shoes Demanded | Quantity of Shoes Supplied |
---|---|---|
$ 10 | 100 | 20 |
30 | 80 | 40 |
50 | 60 | 60 |
70 | 40 | 80 |
90 | 20 | 100 |
b. If the number of buyers increases, the(Click to select)quantity demanded of shoesdemand for shoeswill(Click to select)decreaseincrease.
This will cause the equilibrium price to(Click to select)be indeterminatedecreaseincreaseand the equilibrium quantity to(Click to select)be indeterminateincreasedecrease.
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