Tips 2 Topic Blan Board Now Que 43 Case 1 Use The Table To Answer Questions That Follow Table M1 1 Price Per Unit 11 1 (28.95 KiB) Viewed 47 times
Tips 2 Topic Blan Board Now Que 43 Case 1 Use The Table To Answer Questions That Follow Table M1 1 Price Per Unit 11 2 (35.45 KiB) Viewed 47 times
Tips 2 Topic: BLAN board now que 43 Case 1 Use the table to answer questions that follow. Table M1.1 Price per Unit $11.00 12.00 13.00 14.00 15.00 The equilibrium price is $11.00 C$12.00 C$13.00 C$14.00 The equilibrium quantity is Ca. 1000 Quantity Demanded of Units per Year 1000 800 600 400 200 Time left 1:20:10 Quantity Supplied of Units per Year 200 400 600 800 1000 Quiz navigation Multiple Choice 12 10 11 12 13 14 19 20 21 22 23 28 29 30 31 32 37 38 39 40 41 Cases 43 44 45 46 47 Finish attempt... 4 5 6 15 16 24 25 33 34 42
O$14.00 Time left 1:19:52 The equilibrium quantity is: Oa. 1000 Ob. 800 Oc. 600 Od. 400 Calculate the price elasticity of demand if the product price changes from $11 to $14. Use the Ep formula. Oa. 3.57 Ob. 5 Oc. 20 Od. .28 If the government sets the price to $12, is there a shortage or surplus and by how much? Oa. surplus of 400 Ob. shortage of 400 Oc. surplus of 200 Od. shortage of 200 The total revenue at a price of $13 would be: Ⓒa. $9,200 Ob. $13,800 Oc. $7.800 A
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