16. Use the following supply and demand data for a cake business to draw a supply and demand curve. Circle the equilibrium point. How many cakes should the entrepreneur supply each week? Why? What price should the entrepreneur charge for each cake? Why? Supply Quantity per wk. 2 4 6 8 12 14 Price per cake $5 $10 $15 $20 $30 $35 Demand Quantity per wk. 19 16 13 10 7 4 Price per cake $10 $15 $20 $25 $30 $35
16. Use the following supply and demand data for a cake business to draw a supply and demand curve. Circle the equilibrium point. How many cakes should the entrepreneur supply each week? Why? What price should the entrepreneur charge for each cake? Why? Supply Quantity per wk. 2 4 6 8 12 14 Price per cake $5 $10 $15 $20 $30 $35 Demand Quantity per wk. 19 16 13 10 7 4 Price per cake $10 $15 $20 $25 $30 $35
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:11:16 1
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Q SEARCH & ASK CHAT
VX MATH SOLVER
Business
OMath
16. Use the following supply and demand data for a
cake business to draw a supply and demand curve.
Circle the equilibrium point. How many cakes
should the entrepreneur supply each week? Why?
What price should the entrepreneur charge for
each cake? Why?
Supply
Quantity per wk. 2 4
6 8 12 14
Price per cake
$5 $10 $15 $20 $30 $35
Demand
Quantity per wk. 19 16
13 10 7 4
Price per cake $10 $15 $20 $25 $30 $35
Transcript: Business Math 16. Use the following supply and
demand data for a cake business to draw a supply and demand
curve. Circle the equilibrium point. How many cakes should the
entrepreneur supply each week? Why? What price should the
entrepreneur charge for each cake? Why? Supply Quantity pe
468 12 14 Price per cake $5 $10 $15 $20 $30 $35 Demand Qu
per wk. 19 16 13 10 74 Price per cake $10 $15 $20 $25 $30 $35
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