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Refer to the table below. a. What is the equilibrium price in this market? $ per bushel At what price is there neither a shortage nor a surplus? $ per bushel Fill in the surplus-shortage column (gray-shaded cells) and use it to confirm your answers. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Thousands of Bushels Demanded Price per Bushel Thousands of Bushels Supplied Surplus (+) or Shortage (-) 88 3.4 65 81 3.7 71 75 4.0 75 70 4.3 66 4.6 63 4.9 369 78 80 81

Refer to the table below. a. What is the equilibrium price in this market? $ per bushel At what price is there neither a shortage nor a surplus? $ per bushel Fill in the surplus-shortage column (gray-shaded cells) and use it to confirm your answers. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Thousands of Bushels Demanded Price per Bushel Thousands of Bushels Supplied Surplus (+) or Shortage (-) 88 3.4 65 81 3.7 71 75 4.0 75 70 4.3 66 4.6 63 4.9 369 78 80 81

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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Refer to the table below. a. What is the equilibrium price in this market? $ per bushel At what price is there neither a shortage nor a surplus? $ per bushel Fill in the surplus-shortage column (gray-shaded cells) and use it to confirm your answers. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Thousands of Bushels Demanded Price per Bushel Thousands of Bushels Supplied Surplus (+) or Shortage (-) 88 3.4 65 81 3.7 71 75 4.0 75 70 4.3 66 4.6 63 4.9 369 78 80 81
Transcribed Image Text:Refer to the table below. a. What is the equilibrium price in this market? $ per bushel At what price is there neither a shortage nor a surplus? $ per bushel Fill in the surplus-shortage column (gray-shaded cells) and use it to confirm your answers. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Thousands of Bushels Demanded Price per Bushel Thousands of Bushels Supplied Surplus (+) or Shortage (-) 88 3.4 65 81 3.7 71 75 4.0 75 70 4.3 66 4.6 63 4.9 369 78 80 81
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