9. Othingtonblueberry this summer. Both commodities have thefollowing supply and demand equation:Village produces strawberry andDemandSupplyStraw24 – 10 Ps + 8 Pb16 + 4 PsberryBlue1615 Pb + 4 Ps9 + 2 PbberryUnfortunately, many strawberries can't beharvested due to pests, causing the supply curve tochange to 8 + 4 Ps.Calculate equilibrium price and quantity beforeand after the strawberries can't be harvested!b. Visualize changes in both industries usingcurves!

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Calculate equilibrium price and quantity before and after the strawberries can't be harvested!

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

9. Othington
blueberry this summer. Both commodities have the
following supply and demand equation:
Village produces strawberry and
Demand
Supply
Straw
24 – 10 Ps + 8 Pb
16 + 4 Ps
berry
Blue
16
15 Pb + 4 Ps
9 + 2 Pb
berry
Unfortunately, many strawberries can't be
harvested due to pests, causing the supply curve to
change to 8 + 4 Ps.
Calculate equilibrium price and quantity before
and after the strawberries can't be harvested!
b. Visualize changes in both industries using
curves!

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