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Category > Statistics Posted 28 Jul 2017 My Price 5.00

The following table shows the hypothetical monthly demand and supply schedules for cans

 

The following table shows the hypothetical monthly demand and supply schedules for cans of macadamia nuts in Hawaii.

a. What is the equilibrium price of macadamia nuts in Hawaii?

b. At a price of $7 per can, is there equilibrium, a surplus, or a shortage? If it is a surplus or shortage, how large is it?

c. At a price of $10, is there equilibrium, a surplus, or a shortage? If it is a surplus or shortage, how large is it?

 

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 28 Jul 2017 09:07 AM My Price 5.00

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