Question: 16) Answer the following questions based on the graph that represents JR's demand for ribs per week of ribs at Judy's rib shack. 31 .
16) Answer the following questions based on the graph that represents JR's demand for ribs per week of ribs at Judy's rib shack. 31 . At equilibrium price, how many ribs would JR be willing to purchase? (2 Mark) 6. How much is JR willing to pay for 20 ribs? (2Mark) c. How much would JR's consumer surplus be at the equilibrium price? (2Mark) 4. At the equilibrium price, how many ribs would Judy be willing to sell? (1 Mark) c. At the equilibrium price, what is total surplus in the market? ( 1 Mark) 17) ABC company data
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