Writing_Assignment 2_Week 1

Writing_Assignment 2_Week 1 - TEMPLATE: You may use this...

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TEMPLATE: You may use this template to turn in Week 1, Writing Assessment 2. It walks you through the question step-by-step. Your Name _______________________________________________ Date you completed this assignment ________March 23, 2011_____________________ Week 1 Writing Assessment 2 Your work for this problem must be submitted to receive a grade. Demand and Supply Schedule for Rap Music CDs Price Quantity Demanded Quantity Supplied 10 70 million 20 million 11 65 million 40 million 12 60 million 60 million 13 55 million 80 million 14 50 million 100 million a) Using the given supply and demand schedule above, graph the supply and demand curves for rap music CDs. Use the Grapher to create the graph as per the assignment, and then press the Alt+PrintScrn keys, simultaneously. Insert the image into this document in the space below by pressing the Ctrl+V keys, simultaneously.
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b) What are the equilibrium price and quantity? In other words, where is Qd = Qs? What is the quantity that matches in both columns and what is the price at that point? Equilibrium quantity, where quantity demanded is equal to quantity supplied, is
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This note was uploaded on 02/28/2012 for the course ECON EC311 taught by Professor Zahid during the Spring '12 term at ITT Tech San Dimas.

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Writing_Assignment 2_Week 1 - TEMPLATE: You may use this...

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