b. Given the following individual demand and supply schedules for pen and answer the following the questions using completely labeled graph for each part. Demand by Price Demand by Ali Supply by Piano supply by Parker Eman 10 500 750 100 350 20 400 650 200 450 30 300 550 300 550 40 200 450 400 650 50 100 350 500 750 i. for pens?| Graph the demand and supply curves. What is the equilibrium price and quantity in the market ii. Suppose, if the price of the pen is fixed at 40 and 10, analyze its impact on the market for pens.

b. Given the following individual demand and supply schedules for pen and answer the following the questions using completely labeled graph for each part. Demand by Price Demand by Ali Supply by Piano supply by Parker Eman 10 500 750 100 350 20 400 650 200 450 30 300 550 300 550 40 200 450 400 650 50 100 350 500 750 i. for pens?| Graph the demand and supply curves. What is the equilibrium price and quantity in the market ii. Suppose, if the price of the pen is fixed at 40 and 10, analyze its impact on the market for pens.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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