The market price for Cornish hen today is $2.00 or $1.50 below its $3.50 equilibrium price. How

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The market price for Cornish hen today is $2.00 or $1.50 below its $3.50 equilibrium price. How does price eventually return to equilibrium?

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Principles of Economics

ISBN: 978-1285064437

7th edition

Authors: Fred M. Gottheil

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Question Posted: Apr 21, 2015 09:29 AM

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The market price for Cornish hen today is $2.00 or $1.50 below its $3.50 equilibrium price. How

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Lets start with the 350 equilibrium Because the market is in equilibrium we know that quantity d...View the full answer

Principles of Economics

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