Register
Answer the question based on the following supply and demand schedules in units per week for a product.Price Quanity Demanded Quantity Supplied $60 100 40050 140 34040 180 28030 220 22020 260 16010 300
150k views
2 votes
Answer the question based on the following supply and demand schedules in units per week for a product.Price Quanity Demanded Quantity Supplied $60 100 40050 140 34040 180 28030 220 22020 260 16010 300 100Refer to the above table. if demand increased by 40 units at each price while supply decreased by so unts at each price. the equlibrium price wouid be: a. $30 b. $40 c. $60d. $50

User Pavel Stehule
by
3.6k points

1 Answer

5 votes

Answer: equilibrium price is $30

Explanation: price decreased steadily at $10 and demand increased by $40(the lower the price the higher the demand) while supply decreased by $60(the lower the price the lower the supply) From the table equilibrium price equal $30 where demand equal supply at 220 units.

User Shalene
by
3.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.6m questions

4.6m answers

Other Questions

How can expansionary​ expenditure-based fiscal policy lead to crowding out in the​ economy? A. ​Expenditure-based fiscal policy increases the national​ debt, inducing​ forward-looking households and firms
Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his
Andrew doesn’t want to spend a lot of money on student loans, and does not qualify for grants. what is his best option for affording a bachelors degree
The method of appraisal in which the appraiser estimates the replacement cost of the building, deducts depreciation, and adds the value of the site is:________
Link Copied!