Question: The graph below shows supply and demand curves for a new mp3 player accessory. a. What is the equilibrium price? b. Describe the relationship of

The graph below shows supply and demand curves for a new mp3 player accessory.
a. What is the equilibrium price?
b. Describe the relationship of supply and demand if the item were sold for $20.
c. Describe the relationship of supply and demand if the item were sold for $40.
d. Name the domain that will increase demand.
e. Name the domain that will increase supply.

Supply Demand 35

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