17. In the table below what will be the equilibrium market price? Demand (tonnes per annum) Price (RO) Supply (tonnes per annum) 400 1 1000 900 500 800 600 4 700 700 600 800 500 900 7 400 1000 8 300 1100 a. RO 2 b. RO 3 E RO 4 d. RO 5

17. In the table below what will be the equilibrium market price? Demand (tonnes per annum) Price (RO) Supply (tonnes per annum) 400 1 1000 900 500 800 600 4 700 700 600 800 500 900 7 400 1000 8 300 1100 a. RO 2 b. RO 3 E RO 4 d. RO 5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Q#17

17. In the table below what will be the equilibrium market price?
Demand (tonnes per annum)
Price (RO)
Supply (tonnes per annum)
400
1
1000
900
500
800
600
4
700
700
600
800
500
900
7
400
1000
8
300
1100
a. RO 2
b. RO 3
E RO 4
d. RO 5

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