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nurse15 nurse15
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A year ago
Consider a market where the demand curve is downward sloping and the supply curve is upward sloping (so they are neither vertical nor horizontal). If the consumers' willingness to pay for the hundredth unit and the seller's willingness to accept for the 175th unit are both $5.00, then ________.

▸ the equilibrium price is $5.00

▸ there is an excess supply of 75 units at the price of $5.00

▸ the equilibrium quantity is 100 units

▸ there is an excess demand of 75 units at the price of $5.00
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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ordinarykathyordinarykathy
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A year ago
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nurse15 Author
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A year ago
Brilliant ツ
jodie1
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Yesterday
Helped a lot
mcraver1
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2 hours ago
Thanks
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