Answered: Quantity Supplied Price Quantity…

Quantity Supplied Price Quantity Demand 5000 $2 12,000 6000 $4 9,500 7000 $6 7,000 8000 $8 4,500 9000 $10 2,000 A) If the price is this market is $8, how big is the imbalance in the market?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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Quantity Supplied	Price	Quantity Demand
5000	$2	12,000
6000	$4	9,500
7000	$6	7,000
8000	$8	4,500
9000	$10	2,000

A) If the price is this market is $8, how big is the imbalance in the market?

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