Suppose that in December the demand of mandarin oranges increases by 200 while the supply increases by 50. a) Draw the new curves D2 and S2 in graph above. Plot only the endpoints of the curve above and position those points on the edges of the graphing area. b) What will be the new equilibrium price and quantity?

Suppose that in December the demand of mandarin oranges increases by 200 while the supply increases by 50. a) Draw the new curves D2 and S2 in graph above. Plot only the endpoints of the curve above and position those points on the edges of the graphing area. b) What will be the new equilibrium price and quantity?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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