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Author Question: The following diagram shows the market for a particular product traded within a country and not ... (Read 31 times)

xroflmao

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on: May 25, 2020
The following diagram shows the market for a particular product traded within a country and not imported or exported.



Which one of the following statements is FALSE?
◦ At a price of £7, there would be a shortage of 20 000 tonnes per annum.
◦ If demand increased by 10 000 tonnes per annum at each price, equilibrium price would rise to £6.
◦ If demand increased by 10 000 tonnes per annum at each price, equilibrium quantity would rise by 5000 tonnes per month.
◦ Equilibrium price is £5.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by xroflmao on May 25, 2020

jointhecircus

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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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xroflmao

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

LVPMS

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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