Suppose that the following table shows the quantity demanded and the quantity supplied of UGG boots...

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Suppose that the following table shows the quantity demanded and the quantity supplied of UGG boots at five different prices in 2019. a. Price C. $ 160 170 180 190 200 Quantity Demanded in 2019 (thousands of pairs of boots) 4,000 3,500 3,000 2,500 2,000 What is the equilibrium price in this market? b. What is the equilibrium quantity? At which of the price(s) in the table would there be a surplus of boots? d. At which of the price(s) in the table would there be a shortage of boots? Quantity Supplied in 2019 (thousands of pairs of boots) 2,000 2,500 3,000 3,500 4,500 Suppose that the following table shows the quantity demanded and the quantity supplied of UGG boots at five different prices in 2019. a. Price C. $ 160 170 180 190 200 Quantity Demanded in 2019 (thousands of pairs of boots) 4,000 3,500 3,000 2,500 2,000 What is the equilibrium price in this market? b. What is the equilibrium quantity? At which of the price(s) in the table would there be a surplus of boots? d. At which of the price(s) in the table would there be a shortage of boots? Quantity Supplied in 2019 (thousands of pairs of boots) 2,000 2,500 3,000 3,500 4,500

Answer rating: 100% (QA)

a At equilibrium Quantity Demanded Quantity Supplied Therefore equilibrium price 180 b ... View the full answer