Mic7: Market equilibirum, Surplus, Shortage
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Last updated almost 6 years ago
5 questions
1
Where is the market equilibrium price and quantity in the graph above?
Where is the market equilibrium price and quantity in the graph above?
1
when price is $1.60 does it create a surplus or shortage in the graph above, and how big is it?
when price is $1.60 does it create a surplus or shortage in the graph above, and how big is it?
1
when price is $.40 does it create a surplus or shortage in the graph above, and how big is it?
when price is $.40 does it create a surplus or shortage in the graph above, and how big is it?
1
If the price of chocolate bars is initially $1.60, what will have to happen to bring the market to equilibrium?
If the price of chocolate bars is initially $1.60, what will have to happen to bring the market to equilibrium?
1
If the price of chocolate bars is initially $.80, what will have to happen to bring the market to equilibirum?
If the price of chocolate bars is initially $.80, what will have to happen to bring the market to equilibirum?