Direction: Using the graph below as basis answer the following questions in the space provided. 1. If the economy is experiencing a shortage in bagels what can suppliers do to the price to bring it back to equilibrium? _______________ 2. At price 1 and with quantity demanded of 14 and quantity supplied of 2, what is the situation of the economy?

Direction: Using the graph below as basis answer the following questions in the space provided. 1. If the economy is experiencing a shortage in bagels what can suppliers do to the price to bring it back to equilibrium? _______________ 2. At price 1 and with quantity demanded of 14 and quantity supplied of 2, what is the situation of the economy?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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