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Author Question: Refer to Figure 4-4.The figure above represents the market for iced tea. Assume that ... (Read 150 times)

sarasara

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on: Mar 15, 2019

Figure 4-4
   









Refer to Figure 4-4.  The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is $3, what changes in the market would result in an economically efficient output?


◦ The price would decrease, the quantity supplied would increase, and the quantity demanded would decrease.
◦ The quantity supplied would decrease, the quantity demanded would increase, and the equilibrium price would decrease.
◦ The price would decrease, the demand would increase, and the supply would decrease.
◦ The price would decrease, quantity demanded would increase, and quantity supplied would decrease.
« Last Edit: Mar 15, 2019 by Celeste »
Macroeconomics ¦ Hubbard, O'Brien ¦ 6th Edition
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Marked as best answer by sarasara on Mar 15, 2019

momolu

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Reply #1 on: Mar 15, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sarasara

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Reply #2 on: Mar 15, 2019
Thank you!


momolu

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Reply #3 on: Mar 15, 2019
Always glad to help...


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