d) Refer to Table 5 Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns. As a result, demand decreases by 100 heaters at each price. The new equilibrium price is $____and the new equilibrium quantity is ____ heaters per month. e) Refer to Table 5 Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns. As a result, demand decreases by 100 heaters at each price. Simultaneously, the cost of production rises, and supply decreases by 100 heaters at each price. The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.
Table 4
The Market for Car-Seat Heaters
Price (dollars per heater) |
Quantity Demanded (heaters per month) |
Quantity Supplied (heaters per month) |
40 50 60 70 80 90 100 |
500 450 400 350 300 250 200 |
300 350 400 450 500 550 600 |
d) Refer to Table 5 Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns. As a result, demand decreases by 100 heaters at each price. The new
e) Refer to Table 5 Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns. As a result, demand decreases by 100 heaters at each price. Simultaneously, the cost of production rises, and supply decreases by 100 heaters at each price. The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.
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