Question

select a product that appears in a newspaper or online ad of several different stores. note the various prices and indicate whether any of these prices are sale prices. What does the information tell you about the equilibrium price of the product you select?

Answer 1

i dont have a answer but i hope this helps

Step-by-step explanation:

The new 64GB iPhone XS, across 5 different online stores, is as follows (in USD): 1339, 1339, 1339, 1329 (+shipping), 1299(+ even higher shipping), with free shipping on the first 3. This indicates that the equilibrium price is right around 1339, with very little room for movement. If there was any level of significant price difference, people would immediately flock to that vendor, prompting them to slightly raise the price while their competitors drop theirs, until the equilibrium is again reached without much net effect.