Price per Bushel Quantity Demanded (bushels) Quantity Supplied (bushels) $3 36,000 0 6 30,000 3,000 9 24,000 6,000 12 19,000 10,000 15 15,000 15,000 18 10,000 21,000 21 7,000 28,000 How many bushels will be sold if the market price is $9 per bushel? If the market price is $9 per bushel, what must happen to restore equilibrium in the market? At what price will suppliers be able to sell 24,000 bushels of corn?
Price per Bushel Quantity Demanded (bushels) Quantity Supplied (bushels) $3 36,000 0 6 30,000 3,000 9 24,000 6,000 12 19,000 10,000 15 15,000 15,000 18 10,000 21,000 21 7,000 28,000 How many bushels will be sold if the market price is $9 per bushel? If the market price is $9 per bushel, what must happen to restore equilibrium in the market? At what price will suppliers be able to sell 24,000 bushels of corn?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section: Chapter Questions
Problem 20AA
Related questions
Question
|
Price per Bushel |
Quantity Demanded (bushels) |
Quantity Supplied (bushels) |
|
$3 |
36,000 |
0 |
|
6 |
30,000 |
3,000 |
|
9 |
24,000 |
6,000 |
|
12 |
19,000 |
10,000 |
|
15 |
15,000 |
15,000 |
|
18 |
10,000 |
21,000 |
|
21 |
7,000 |
28,000 |
- How many bushels will be sold if the market price is $9 per bushel?
- If the market price is $9 per bushel, what must happen to restore equilibrium in the market?
- At what price will suppliers be able to sell 24,000 bushels of corn?
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