Figure 4-7 50 45 Supply 40 35 PRICE ㄓ 30 25 20 15 10 5 Demand 100 200 300 400 500 600 700 800 900 1000 QUANTITY 16. Refer to Figure 4-7. Equilibrium price and quantity are, respectively, a. $30 and 500 units. b. $20 and 300 units. c. $25 and 400 units. d. $15 and 200 units. 17. Refer to Figure 4-7. At what price would there be an excess supply of 400 units of the good? a. $40 b. $30 c. $35 d. $25

Figure 4-7 50 45 Supply 40 35 PRICE ㄓ 30 25 20 15 10 5 Demand 100 200 300 400 500 600 700 800 900 1000 QUANTITY 16. Refer to Figure 4-7. Equilibrium price and quantity are, respectively, a. $30 and 500 units. b. $20 and 300 units. c. $25 and 400 units. d. $15 and 200 units. 17. Refer to Figure 4-7. At what price would there be an excess supply of 400 units of the good? a. $40 b. $30 c. $35 d. $25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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