The table on the right shows the demand and supply schedules for sandwiches. Quantity demanded Quantity supplied ..... Price If the quantity supplied of sandwiches decreases by 20 per hour at each price, the new price of (dollars per sandwich) (sandwiches per hour) 80 a sandwich is $ 5. 1.00 70 10 2.00 60 20 Total surplus increases by $ : 3.00 50 30 4.00 40 40 5.00 30 50 6.00 20 60 7.00 10 70 8.00 80

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The table on the right shows the demand and supply schedules for sandwiches

The table on the right shows the demand and supply schedules for sandwiches.
Quantity
Quantity
supplied
Price
demanded
If the quantity supplied of sandwiches decreases
by 20 per hour at each price, the new price of
a sandwich is $ 5.
(dollars per
sandwich)
(sandwiches per hour)
80
1.00
70
10
2.00
60
20
Total surplus increases
by $
3.00
50
30
4.00
40
40
5.00
30
50
6.00
20
60
7.00
10
70
8.00
80
Transcribed Image Text:The table on the right shows the demand and supply schedules for sandwiches. Quantity Quantity supplied Price demanded If the quantity supplied of sandwiches decreases by 20 per hour at each price, the new price of a sandwich is $ 5. (dollars per sandwich) (sandwiches per hour) 80 1.00 70 10 2.00 60 20 Total surplus increases by $ 3.00 50 30 4.00 40 40 5.00 30 50 6.00 20 60 7.00 10 70 8.00 80
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