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Which of the following could explain why there was a stampede at the Richmond International Raceway ...

minaebied

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Which of the following could explain why there was a stampede at the Richmond International Raceway ...

Which of the following could explain why there was a stampede at the Richmond International Raceway where 1,000 laptops were being sold at $50 each?

▸ The demand for laptops is not very responsive to price.

▸ The quantity of laptops demanded at $50 was higher than the quantity supplied.

▸ The people who bought the laptops at that price were those who valued laptops the most.

▸ The price of $50 per laptop was above the equilibrium price of laptops.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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chanelfargesen

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minaebied Author

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Thank you, thank you, thank you!

DAGINC

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Just got PERFECT on my quiz

Liarec

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Smart ... Thanks!

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