answer 3 part b

answer 3 part b - at a price of 10 demand is 150 and supply...

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$10. What will occur? Price Quantity Demanded Quantity Suppplied $1.00 500 100 $2.00 400 120 $3.00 350 150 $4.00 320 200 $5.00 300 300 $6.00 275 410 $7.00 260 500 $8.00 230 650 $9.00 200 800 $10.00 150 975 the table shows that as price rises, demand falls, and supply rises.
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Unformatted text preview: at a price of 10 demand is 150 and supply is 975--a situation of EXCESS SUPPLY which equals 975-150= 820 b. Describe the situation at a price of...
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