The demand and supply curves for beach volleyballs are given by: D = 80-4P S = -2+2P The current price is 19. How much is the excess supply or demand? Write a positive number if you find an excess supply, and write a negative number if you find an excess demand. (round your answer to one decimal place)
The demand and supply curves for beach volleyballs are given by: D = 80-4P S = -2+2P The current price is 19. How much is the excess supply or demand? Write a positive number if you find an excess supply, and write a negative number if you find an excess demand. (round your answer to one decimal place)
Chapter6: Elasticity
Section: Chapter Questions
Problem 11QP: Suppose you learned that the price elasticity of demand for wheat is 0.7 between the current price...
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Transcribed Image Text:The demand and supply curves for beach volleyballs are given by:
D = 80-4P
S = -2+2P
The current price is 19. How much is the excess supply or demand? Write a positive number
if you find an excess supply, and write a negative number if you find an excess demand.
(round your answer to one decimal place)
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