Question

A large number of firms are capable of producing chocolate- covered cockroaches. The linear, upward-sloping supply curve starts on the price axis at $ 6 per box. A few hardy consumers are willing to buy this product (possibly to use as gag gifts). Their linear, downward- sloping demand curve hits the price axis at $ 4 per box. Draw the supply and demand curves. Does an equilibrium occur at a positive price and quantity? Explain your answer.



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  • CreatedNovember 13, 2014
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