63. 1. Use data to plot the graph and show it in your work. 2. What...

 

  
 

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63. 1. Use data to plot the graph and show it in your work. 2. What is Market price? 3. What is the quantity demanded at the market price? 4. What is the quantity supplied at the market price? 5. At a price of $5, the quantity demanded would be? 6. At a price of $5, the quantity supplied would be? 7. Is there a Surplus or Shortage at p=$5? Price Qd Qs $ 3.00 $ 3.50 $ 4.00 $ 4.50 $ 5.00 $ 5.50 $ 6.00 440 280 420 340 400 400 2$ 380 460 2$ 360 520 340 580 320 640 63. 1. Use data to plot the graph and show it in your work. 2. What is Market price? 3. What is the quantity demanded at the market price? 4. What is the quantity supplied at the market price? 5. At a price of $5, the quantity demanded would be? 6. At a price of $5, the quantity supplied would be? 7. Is there a Surplus or Shortage at p=$5? Price Qd Qs $ 3.00 $ 3.50 $ 4.00 $ 4.50 $ 5.00 $ 5.50 $ 6.00 440 280 420 340 400 400 2$ 380 460 2$ 360 520 340 580 320 640

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1 Graph On the graph demand curve slopes downwards and supply ... View the full answer