Question: help with all three please #PrinOfMacroecon make sure to use numbers fromthe chart to justify your response, as what happen to the prices of goods/service,
help with all three please
#PrinOfMacroecon
make sure to use numbers fromthe chart to justify your response, as what happen to the prices of goods/service, whendemand/supply changes in the market .
Exhibit 3-8 Demand and supply data for Video games Price Quantity Demanded of Video games 400 Quantity Supplied of Video games 900 $75 70 65 450 850 500 800 60 750 550 600 55 700 50 650 650 45 700 600 40 750 550 1. Using the above Exhibit 3-8, as a reference point regarding demand/supply data, discuss, what happens in the market, If the price of video games was currently $70. 2. Using the above Exhibit 3-8, as a reference point regarding demand/supply data, discuss, what happens in the market, at any market price of video games above $50? 3. Using the above Exhibit 3-8, as a reference point regarding demand/supply data, discuss, what happens in the market, if the price of video games was currently $45
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