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The following table shows the demand and supply schedules for good X.Price ()1234567Quantity ...

lizsmith

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The following table shows the demand and supply schedules for good X.Price ()1234567Quantity ...

The following table shows the demand and supply schedules for good X.

Price (£)	1	2	3	4	5	6	7
Quantity demanded	120	100	80	60	40	20	0
Quantity supplied	0	20	40	60	80	100	120

Assume that supply increases by 40 units at all prices. What will be the effect on equilibrium output?

▸ Rise by 20 units

▸ Rise by 40 units

▸ Rise by 60 units

▸ It's impossible to say because not enough information is given in the table.

Textbook

Essential Economics for Business

Edition: 5^th

Authors: Sloman, Jones

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Steve T.

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More solutions for this book are available here

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lizsmith Author

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4 years ago

I appreciate what you did here, answered it right Smiling Face with Open Mouth

sleinhi

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Yesterday

Correct

hannahspillett

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2 hours ago

Thanks

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