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Micro 2.6-Equilibrium Price and Equilibrium Quantity-Grebes

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Last updated 6 months ago
13 questions
Can we solve this problem WITHOUT A GRAPH?
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Question 1
1.

Under these conditions, competitive market forces would tend to establish an equilibrium price of ____dollars per Greebe and an equilibrium quantity of _________million Greebes. Format: #,#

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Question 2
2.

If the price currently prevailing in the market is $0.30 per Greebe, buyers would want to buy _______ million Greebes and sellers would want to sell _______million Greebes. Format: #,#

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Question 8
8.

What If the price currently prevailing in the market is $0.20 per Greebe, buyers would want to buy ____million Greebes, and sellers would want to sell ______million Greebes. Format: #,#

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Question 11
11.

At this new price, buyers would now want to buy _______million Greebes, and sellers now want to sell _____ million Greebes. Format: #,#

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Question 3
3.

Under these conditions, there would be a _________________ of _____million Greebes.

Question 4
4.

Competitive market forces would tend to cause the price to __________ to a price of ____per Greebe.

Question 5
5.

At this new price, buyers would now want to buy _____ million Greebes, and sellers now want to sell ____ million Greebes. Format: #,#

Question 6
6.

Because of this change in price back to equilibrium, the ______________________ would change by _____ million Greebes.

Question 7
7.

Because of this change in price back to equilibrium, the ______________________ would change by _____ million Greebes.

Question 9
9.

Under these conditions, there would be a ____________________ of ______million Greebes.

Question 10
10.

Competitive market forces would tend to cause the price to ________________ to a price of ______per Greebe.

Question 12
12.

Because of this change in price back to equilibrium, the _______________________ would change by _____ million Greebes.

Question 13
13.

Because of this change in price back to equilibrium, the ________________ would change by _____ million Greebes.