4. The table below presents the demand and supply schedule for tomatoes. Price (in Pesos) 30 40 50 60 70 QD 100 80 60 40 20 per month QS 20 40 60 80 100 a. The equilibrium price is P b. The equilibrium quantity is per month. c. Suppose there is an influx of individuals in the area thus demand for tomatoes increase by 50% at each same price while supply is fixed. What is now the equilibrium price and quantity. Illustrate your answer graphically.
4. The table below presents the demand and supply schedule for tomatoes. Price (in Pesos) 30 40 50 60 70 QD 100 80 60 40 20 per month QS 20 40 60 80 100 a. The equilibrium price is P b. The equilibrium quantity is per month. c. Suppose there is an influx of individuals in the area thus demand for tomatoes increase by 50% at each same price while supply is fixed. What is now the equilibrium price and quantity. Illustrate your answer graphically.
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 25P
Related questions
Question
![4. The table below presents the demand and supply schedule for
tomatoes.
Price (in Pesos)
30
40
50
60
70
QD
100
80
60
40
20
per month
QS
20
40
60
80
100
a. The equilibrium price is P
b. The equilibrium quantity is
per month.
c. Suppose there is an influx of individuals in the area thus demand for
tomatoes increase by 50% at each same price while supply is fixed.
What is now the equilibrium price and quantity. Illustrate your answer
graphically.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7b3c76e-6ced-456e-b64e-eb3e713e9240%2Fd35bbcac-96b9-47f6-9095-22214c887c4f%2Fr8650v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. The table below presents the demand and supply schedule for
tomatoes.
Price (in Pesos)
30
40
50
60
70
QD
100
80
60
40
20
per month
QS
20
40
60
80
100
a. The equilibrium price is P
b. The equilibrium quantity is
per month.
c. Suppose there is an influx of individuals in the area thus demand for
tomatoes increase by 50% at each same price while supply is fixed.
What is now the equilibrium price and quantity. Illustrate your answer
graphically.
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