Author Question: The supply and demand schedules for the umbrella market are given below:PriceQuantity ... (Read 80 times)

knemetz3 · **on:** Oct 12, 2022

Question 1

The supply and demand schedules for dozens of roses are given below:

Price	Quantity Supplied per period	Quantity Demanded per period
$10	200	500
$20	300	450
$30	400	400
$40	500	350
$50	600	300

TABLE 3-1

Refer to Table 3-1. How many dozen of roses would actually be purchased if the price in this market were $40?
◦ 200
◦ 350
◦ 500
◦ 850
◦ 150

Question 2

The supply and demand schedules for the umbrella market are given below:

Price	Quantity Supplied	Quantity Demanded
$10	400	700
$15	500	650
$20	600	600
$25	700	550
$30	800	500

TABLE 3-2

Refer to Table 3-2. The equilibrium price for umbrellas is
◦ $20.
◦ $10.
◦ $15.
◦ $25.
◦ $30.

bmac98 · **Reply #1 on:** Oct 12, 2022

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