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The demand and supply for strawberries in Pacifico are as follows:


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1581432038(1).png

The demand and supply for strawberries in Pacifico are as follows:
a) Suppose that the supply of strawberries increase by 40 percent. Find the new quantity supplied in the table below.
Quantity
Initial
Price ($)
Demanded
Quantity
New Quantity
Supplied
Supplied
200
40
1.25
180
60
1.5
160
80
1.75
140
100
2
120
120
2.25
100
140
2.5
80
160
ooo ooo O
b) What are the equilibrium price and equilibrium quantity for the initial supply?
Equilibrium Price
=$0
Equilibrium Quantity = 0
c) What are the equilibrium price and equilibrium quantity for the new supply?
Equilibrium Price
= $0
Equilibrium Quantity = 0

Top Answer

Price Quantity demanded Initial quantity supplied New quantity supplied 1 200 40 56 1.25... View the full answer

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Other Answers

ans 1 price 2 and quantity 120 where supply=Demand 2 price=1.75... View the full answer

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