Pete sells used CDs at an open-air flea market on the weekends. With the open atmosphere, the

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Pete sells used CDs at an open-air flea market on the weekends. With the open atmosphere, the weather has a large effect on the demand for his CDs. Demand under different weather conditions and Pete's willingness to sell are listed in the following three tables.

rainy demand supply sunny demand price price price qty qty qty 4 10 20 10 18 25 16 26 30 3 22 5 34 5 35 4 28 4 42 4 40 3

If the weather forecast predicts a 50% chance of rain over the weekend, what is the equilibrium quantity of CDs that will be sold? (Show your work)

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Data Analysis and Decision Making

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4th edition

Authors: Christian Albright, Wayne Winston, Christopher Zappe

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Question Posted: Mar 21, 2018 04:14 AM

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Pete sells used CDs at an open-air flea market on the weekends. With the open atmosphere, the

Question:

rainy demand supply sunny demand price price price qty qty qty 4 10 20 10 18 25 16 26 30 3 22 5 34 5 35 4 28 4 42 4 40 34 3 50 3 45 40 58 50 46 66 1 55 7. 2. 2.

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Calculating equilibrium quantity In equilibrium Total supply total expected dema...View the full answer

Data Analysis and Decision Making

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