a. Suppose that the album producers put it on sale for $4 each. How much will be the surplus or shortage? How many will be sold? There would be a shortage of [ A quantity of [ Jalbums will be sold. b. The maximum price at which the quantity actually sold in part (a) could have been sold is $ [ c. If the album producers had actually put the album on the market at the price mentioned in part (b), the resulting surplus would be

a. Suppose that the album producers put it on sale for $4 each. How much will be the surplus or shortage? How many will be sold? There would be a shortage of [ A quantity of [ Jalbums will be sold. b. The maximum price at which the quantity actually sold in part (a) could have been sold is $ [ c. If the album producers had actually put the album on the market at the price mentioned in part (b), the resulting surplus would be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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