Supply and demand for refrigerated air (AC) systems for houses. Quantity Demanded 3000 2900 2800 2700...

  

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Supply and demand for refrigerated air (AC) systems for houses. Quantity Demanded 3000 2900 2800 2700 2600 2500 Price $5000 $7500 $10,000 $12,500 $15,000 $17,500 Quantity Supplied 2000 2200 2400 2600 2800 3000 a) Graph the Supply and Demand curves, label everything! Graph paper please. b) Find the equilibrium price and quantity, using your graph to give a precise answer. Explain in detail why $10,000 is NOT the equilibrium price using information from the table. c) Suppose that temperatures in Albuquerque get hotter over time. How would this affect the demand curve for refrigerated air systems? How would this affect the supply curve for refrigerated air systems? Show the impact on your graph. In a sentence, explain the impact on equilibrium price and quantity. Supply and demand for refrigerated air (AC) systems for houses. Quantity Demanded 3000 2900 2800 2700 2600 2500 Price $5000 $7500 $10,000 $12,500 $15,000 $17,500 Quantity Supplied 2000 2200 2400 2600 2800 3000 a) Graph the Supply and Demand curves, label everything! Graph paper please. b) Find the equilibrium price and quantity, using your graph to give a precise answer. Explain in detail why $10,000 is NOT the equilibrium price using information from the table. c) Suppose that temperatures in Albuquerque get hotter over time. How would this affect the demand curve for refrigerated air systems? How would this affect the supply curve for refrigerated air systems? Show the impact on your graph. In a sentence, explain the impact on equilibrium price and quantity.

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graph of supply and demand curves The price is on the vertical axis and the quantity is on the horizontal axis The supply curve is labeled S and the demand curve is labeled D The equilibrium point is ... View the full answer