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# Suppose the price of a can of tuna is \$4.00. What is the quantity demanded? What is the quantity

supplied? At this price, is there a shortage or a surplus? By what amount?

• Suppose the price of a can of tuna is \$1.50. What is the quantity demanded? What is the quantity supplied? At this price, is there a shortage or a surplus? By what amount?
• What is the equilibrium price and quantity in this market?

Quantity Demanded = 2 millions of cans. Quantity Supplied = 8 millions of cans. Surplus = 6... View the full answer

4
Equalbein point.
1-5
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2
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8
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Quantity
at Price \$ 4 .
Quantity demanded : 2 millions of cans
corresponding point on
demand come at \$ 4 )
Quantity supplied - 5 millions of cans.
when supply...

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