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2 Aug 2018
Use the following information to answer the next 4 questions. The diagram below reflects supply and demand in the market for Sprockets. $/Sprocket 10 20 30 40 80 100 120 Sprockets 8. Absent any government intervention, what would be the equilibrium price and quantity of Sprockets? (a) The equilibrium price would be $4 per Sprocket and the equilibrium quantity would be 40 Sprock- ets. (b) The equilibrium price would be $40 per Sprocket and the equilibrium quantity would be 40 Sprockets. (c) The equilibrium price would be $40 per Sprocket and the equilibrium quantity would be 4 Sprock- ets. (d) The equilibrium price would be $4 per Sprocket and the equilibrium quantity would be 4 Sprock- ets.
Use the following information to answer the next 4 questions. The diagram below reflects supply and demand in the market for Sprockets. $/Sprocket 10 20 30 40 80 100 120 Sprockets 8. Absent any government intervention, what would be the equilibrium price and quantity of Sprockets? (a) The equilibrium price would be $4 per Sprocket and the equilibrium quantity would be 40 Sprock- ets. (b) The equilibrium price would be $40 per Sprocket and the equilibrium quantity would be 40 Sprockets. (c) The equilibrium price would be $40 per Sprocket and the equilibrium quantity would be 4 Sprock- ets. (d) The equilibrium price would be $4 per Sprocket and the equilibrium quantity would be 4 Sprock- ets.
Lelia LubowitzLv2
3 Aug 2018
