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Demand and Supply Assignment | Homework For You

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December 7th, 2019

Burger are produced and sold in South Africa in a competive market. The market determined equilibruim price of a burger is R20. At this price, the market consumes 100 burgers pre day.

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Homework For You

If burgers were free (cost R0) the market would consume 300 burgers per day. If the price per burger was set at R60 the market would purchase no burgers. Based on the information provided, derive the demand and supply curves for burgers in South Africa. Label the equilibrium as point E. Get Economics homework help today

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