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Title: The market demand schedule and supply schedule for digital cameras is shown in the table below. ...
Post by: remmylp on Dec 11, 2022
The market demand schedule and supply schedule for digital cameras is shown in the table below. Illustrate the answers with the help of a graph.
 
Price ($ per unit)Quantity Demanded (units)Quantity Supplied (units)
10400150
20360210
30300300
40240340
50200360

a) Determine the equilibrium quantity and price.
b) What is the excess demand in the market if the price is set at $20?
c) What is the excess supply in the market if the price is set at $40?


Title: The market demand schedule and supply schedule for digital cameras is shown in the table below. ...
Post by: schmience on Dec 11, 2022
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