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  1. 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?
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    Top Answer

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

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    4
    Equalbein point.
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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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