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Equilibrium Price and Equilibrium Quantity Assignment | Homework For You

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February 21st, 2020

Use the following supply and demand schedules for coats to answer the questions below. Price (SR) Quantity demanded Quantity supplied 80 50 110 70 60 90 60 70 70 50 80 50 40 90 30Homework For You
a. Find the equilibrium price and equilibrium quantity and draw a graph to show your answer.
b. If the actual price in this market were SR70, what problem would exist? What would drive the market towards the equilibrium? Draw a graph to show your answer
c. If the actual price in this market were SR50, what problem would exist? What would drive the market towards the equilibrium? Draw a graph to show your answer. Get Economics homework help today

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