Question
We are at the end of April in apple market. You have known that: A.First week of April, Apple price was (2$ per Ib), Qd
We are at the end of April in apple market. You have known that: A.First week of April, Apple price was (2$ per Ib), Qd (8000 KG) and Qs (2000 KG). B.Second week of April, Apple price became (6$ per Ib), Qd (3000) and Qs (9000KG). You are required to:
1.Discuss the cases above.
2. Point out the shortage and surplus.
3.How can we be back to Equilibrium point?
Step by Step Solution
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Step: 1
1 Discussion of the Cases In the first week of April the price of apples was 2 per Ib At this price ...
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Step: 3
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Global Strategy
Authors: Mike W. Peng
5th Edition
0357512367, 978-0357512364
