Question: ASSESS Chapter 10 Homework Question 7, Text Problem 8 Part 1 of 8 Suppose the supply and demand schedules for cell phones are as follows:

ASSESS Chapter 10 Homework Question 7, Text Problem 8 Part 1 of 8 Suppose the supply and demand schedules for cell phones are as follows: Price Demand Supply $2 11 1 $3 10 2 $4 9 3 $5 8 4 $6 7 5 $7 6 6 $8 5 7 $9 4 8 $10 3 9 $11 2 10 1 11 HW Score: 16.67%, 2.33 of 14 points O Points: 0 of 1 $12 The initial equilibrium price is $and the initial equilibrium quantity is units. (Enter your responses as integers.)

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