The following data shows the market for soccer balls: Price ($) 0 Demand 120 Supply 0 10 110 20 20 100 40 Select one: O A. $40 and 120. B. $10 and 110. C. $60 and 110. D. $50 and 50. E. $30 and 100. 30 90 60 40 80 80 50 60 70 60 100 120 70 50 140 Refer to the above information to answer this question. Assume that initially the market is in equilibrium, and the demand increases by 10 units while the supply increases by 40 units. What will be the new equilibrium price and quantity?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The following data shows the market for soccer balls:
Price ($) 0
Demand 120
Supply |0
10
110
20
20
100
40
Select one:
O A. $40 and 120.
B. $10 and 110.
OC.
$60 and 110.
O D. $50 and 50.
OE. $30 and 100.
30
90
60
40
80
80
50
60
70
70
60
50
100 120 140
Refer to the above information to answer this question. Assume that initially the
market is in equilibrium, and the demand increases by 10 units while the supply
increases by 40 units. What will be the new equilibrium price and quantity?
Transcribed Image Text:The following data shows the market for soccer balls: Price ($) 0 Demand 120 Supply |0 10 110 20 20 100 40 Select one: O A. $40 and 120. B. $10 and 110. OC. $60 and 110. O D. $50 and 50. OE. $30 and 100. 30 90 60 40 80 80 50 60 70 70 60 50 100 120 140 Refer to the above information to answer this question. Assume that initially the market is in equilibrium, and the demand increases by 10 units while the supply increases by 40 units. What will be the new equilibrium price and quantity?
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