The report indicates that the current price of good X is 50 per unit. If a...
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The report indicates that the current price of good X is 50 per unit. If a new method is adopted, the demand and supply for good X will change to Q=180-1.5P, and Q =3.5P-150. What price will be if the new method is adopted? How many units of good X will be consumed? The report indicates that the current price of good X is 50 per unit. If a new method is adopted, the demand and supply for good X will change to Q=180-1.5P, and Q =3.5P-150. What price will be if the new method is adopted? How many units of good X will be consumed?
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The new price of good X will be 45 To find this we need to set the demand and supply e... View the full answer
Related Book For
Managerial Economics and Business Strategy
ISBN: 978-0071267441
7th Edition
Authors: Michael R. baye
Posted Date:
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