Let (inverse) demand be Pb = 97 - 3 Qb and (inverse) supply be Pv = 24 + 2 Qv. Consider the shift in demand illustrated (the intercept of Pb moves by 10), what is the ORIGINAL quantity traded? Answer: your answer Price ($) $100 $80 $60 $40 $20 $0 $-20 0 5 Demand 10 Submit Supply 15 Eqm 20 D + shift 25 30 35

Let (inverse) demand be Pb = 97 - 3 Qb and (inverse) supply be Pv = 24 + 2 Qv. Consider the shift in demand illustrated (the intercept of Pb moves by 10), what is the ORIGINAL quantity traded? Answer: your answer Price ($) $100 $80 $60 $40 $20 $0 $-20 0 5 Demand 10 Submit Supply 15 Eqm 20 D + shift 25 30 35

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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