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The market demand schedule and supply schedule for digital cameras is shown in the table below. ...

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The market demand schedule and supply schedule for digital cameras is shown in the table below. ...

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)
10	400	150
20	360	210
30	300	300
40	240	340
50	200	360

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?

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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schmience

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More solutions for this book are available here

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remmylp Author

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Correct

terriroberts96

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Just got PERFECT on my quiz

cartoon

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