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Author Question: The following table shows the demand and supply schedules for good X.Price ()1234567Quantity ... (Read 55 times)

nelaaney

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on: May 25, 2020

Question 1

The following table shows the demand and supply schedules for good X.

Price (£)1234567
Quantity demanded120100806040200
Quantity supplied020406080100120
Assume that supply increases by 40 units at all prices. What will be the effect on equilibrium price?
◦ Fall by £1
◦ Rise by £2
◦ Fall by £2
◦ Rise by £1

Question 2

The following table shows the demand and supply schedules for good X.

Price (£)1234567
Quantity demanded120100806040200
Quantity supplied020406080100120
Assume that supply increases by 40 units at all prices. What will be the effect on equilibrium output?
◦ Rise by 20 units
◦ Rise by 40 units
◦ Rise by 60 units
◦ It's impossible to say because not enough information is given in the table.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by nelaaney on May 25, 2020

harveenkau8139

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Reply #1 on: May 25, 2020
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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nelaaney

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Reply 2 on: May 25, 2020
Thanks for the timely response, appreciate it

emsimon14

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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