Question: Price Quantity Quantity Demanded Supplied $ 40 500 300 $ 50 450 350 $ 60 400 400 $ 70 350 450 $ 80 300 500

Price Quantity Quantity Demanded Supplied $ 40 500 300 $ 50 450 350 $ 60 400 400 $ 70 350 450 $ 80 300 500 $ 90 250 550 $100 200 600 Look at Table 4.2.2. Suppose consumers learn that the rubber ducks wear out batteries very quickly. As a result, demand decreases by 100 rubber ducks at each price. At the same time, input prices rise, causing supply to decrease by 100 rubber ducks at each price. The new equilibrium price is $ and the new equilibrium quantity is rubber ducks. A) 70: 450 B) 70: 350 C) 50: 450 D) 50: 350 E 60; 300
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