c suppose that supply now increases by 150 tons at

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Unformatted text preview: s. Price per ton ($) 120 160 200 240 280 320 360 400 Tons demanded per week 725 700 675 650 600 550 500 425 (old) Tons supplied per week 225 300 400 500 600 750 1000 1300 (new) Tons supplied per week (d) How much will price change from the original equilibrium (assuming that the government no longer fixes a maximum price)? How much more will be sold? Change in price ............................................................................................................................ Change in quantity ........................................................................................................................ 4...
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This note was uploaded on 09/21/2011 for the course ECONOMICS 3315 taught by Professor Glasureyong during the Fall '11 term at University of Houston-Victoria.

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