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Question 10 Table 3-1 The Market for Potato Chips (quantities measured in bags per week) Quantity Supplied 500 1000 1500 2000 2500 Price $1.00 2.00 3.00 4.00 5.00 Reference: Table 3-1 Quantity Demanded 2000 1750 1500 1250 1000 According to Table 3-1, the equilibrium price for potato chips is: A. $2.50. B. $2.00. C. $4.00. D. $3.00. E. $1.00.

Question 10 Table 3-1 The Market for Potato Chips (quantities measured in bags per week) Quantity Supplied 500 1000 1500 2000 2500 Price $1.00 2.00 3.00 4.00 5.00 Reference: Table 3-1 Quantity Demanded 2000 1750 1500 1250 1000 According to Table 3-1, the equilibrium price for potato chips is: A. $2.50. B. $2.00. C. $4.00. D. $3.00. E. $1.00.

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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Question 10 Table 3-1 Price $1.00 2.00 3.00 The Market for Potato Chips (quantities measured in bags per week) Quantity Supplied 500 1000 1500 2000 2500 4.00 5.00 Reference: Table 3-1 Quantity Demanded 2000 1750 1500 1250 1000 According to Table 3-1, the equilibrium price for potato chips is: A. $2.50. OB. $2.00. C. $4.00. D. $3.00. E. $1.00.
Transcribed Image Text:Question 10 Table 3-1 Price $1.00 2.00 3.00 The Market for Potato Chips (quantities measured in bags per week) Quantity Supplied 500 1000 1500 2000 2500 4.00 5.00 Reference: Table 3-1 Quantity Demanded 2000 1750 1500 1250 1000 According to Table 3-1, the equilibrium price for potato chips is: A. $2.50. OB. $2.00. C. $4.00. D. $3.00. E. $1.00.
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