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For a product, the demand curve is p = 80e-0.0004 and the supply curve is p = 4yg + 10 for 0 sq s 500 , where 9 is quantity and p is price in dollars per unit. At a price of $58 , what quantity are consumers willing to buy and what quantity are producers willing to supply? Will the market push prices up or down? Round your answers to the nearest integer. 1 Consumers are willing to buy units. Producers are willing to supply units. The market will push prices

For a product, the demand curve is p = 80e-0.0004 and the supply curve is p = 4yg + 10 for 0 sq s 500 , where 9 is quantity and p is price in dollars per unit. At a price of $58 , what quantity are consumers willing to buy and what quantity are producers willing to supply? Will the market push prices up or down? Round your answers to the nearest integer. 1 Consumers are willing to buy units. Producers are willing to supply units. The market will push prices

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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For a product, the demand curve is p = 80e-0.0004 and the supply curve is p = 4yg + 10 for 0 sq s 500 , where 9 is quantity and p is price in dollars per unit. At a price of $58 , what quantity are consumers willing to buy and what quantity are producers willing to supply? Will the market push prices up or down? Round your answers to the nearest integer. 1 Consumers are willing to buy units. Producers are willing to supply units. The market will push prices
Transcribed Image Text:For a product, the demand curve is p = 80e-0.0004 and the supply curve is p = 4yg + 10 for 0 sq s 500 , where 9 is quantity and p is price in dollars per unit. At a price of $58 , what quantity are consumers willing to buy and what quantity are producers willing to supply? Will the market push prices up or down? Round your answers to the nearest integer. 1 Consumers are willing to buy units. Producers are willing to supply units. The market will push prices
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