The demand and supply schedules for potato chips are in the table. a. What are the equilibrium
Question:
The demand and supply schedules for potato chips are in the table.
a. What are the equilibrium price and equilibrium quantity of potato chips?
b. If chips were 60 cents a bag, describe the situation in the market for potato chips and explain what would happen to the price of a bag of chips.
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a The equilibrium price is 80 cents a bag and the equilibrium ...View the full answer
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