Author Question: Refer to the information provided in Figure 3.14 below to answer the question(s) that follow. Refer ... (Read 174 times)

londonang · **on:** Apr 19, 2019

Refer to the information provided in Figure 3.14 below to answer the question(s) that follow.

Refer to Figure 3.14. If this market is unregulated and the price is currently $90, you would expect that the price of sunglasses would

◦ remain at $90, because firms would not want to reduce the price.
◦ fall to $30, so firms could sell their excess supply.
◦ fall to $60, where quantity demanded equals quantity supplied.
◦ fall, but the new price is indeterminate from the information provided.

pangili4 · **Reply #1 on:** Apr 19, 2019

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