Question: Demand and Supply Charlotte Chea 2 Question Without calculation work or explanation, no credit will be awarded. $P S P = 50 Diagram shown at

Demand and Supply Charlotte Chea 2 Question

Demand and Supply Charlotte Chea 2 Question Without calculation work or explanation, no credit will be awarded. $P S P = 50 Diagram shown at the left illus- trates coffee market equilibrium and disequilibrium at Cool Town. (Note: Graph is not drawn to scale) P = 25 P = 10 P: Price ($) Q: Quantity (pounds) P". Q: Market equilibrium D 0 5 9 Q* = 12 20 24 At how much and what quantity is the market at equi- librium? (5 points)

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