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The following tables show the tea market supply and demand schedules of three countries. • Use the schedules to draw demand and supply curve of each company. • Use the schedules to draw the market curve for the tea market. Company A Price($) 10 20 30 40 50 60 Company B Price($) 70 80 90 100 110 120 130 Demanded Q Supplied Q 130 10 20 30 40 50 Demanded CSupplied Q 70 60 50 40 10 20 30 40 50 60 70 120 110 100 90 80 30 20 10 60 70 70 70

The following tables show the tea market supply and demand schedules of three countries. • Use the schedules to draw demand and supply curve of each company. • Use the schedules to draw the market curve for the tea market. Company A Price($) 10 20 30 40 50 60 Company B Price($) 70 80 90 100 110 120 130 Demanded Q Supplied Q 130 10 20 30 40 50 Demanded CSupplied Q 70 60 50 40 10 20 30 40 50 60 70 120 110 100 90 80 30 20 10 60 70 70 70

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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The following tables show the tea market supply and demand schedules of three countries. • Use the schedules to draw demand and supply curve of each company. • Use the schedules to draw the market curve for the tea market. Company A Price($) 10 20 30 Company B Price($) 70 80 Demanded Q Supplied Q 130 Demanded Supplied Q 70 60 10 10 20 30 40 50 120 20 110 100 90 80 30 40 50 90 50 40 50 60 70 100 110 120 40 30 20 10 60 60 70 130 70 70
Transcribed Image Text:The following tables show the tea market supply and demand schedules of three countries. • Use the schedules to draw demand and supply curve of each company. • Use the schedules to draw the market curve for the tea market. Company A Price($) 10 20 30 Company B Price($) 70 80 Demanded Q Supplied Q 130 Demanded Supplied Q 70 60 10 10 20 30 40 50 120 20 110 100 90 80 30 40 50 90 50 40 50 60 70 100 110 120 40 30 20 10 60 60 70 130 70 70
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