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Suppose the demand for eggs is Q=12,000-2,000P and the supply of eggs is Q=-1,500 +3,000P where quantity is measured in
Posted: Sun Jul 03, 2022 1:00 pm
by answerhappygod
- Suppose The Demand For Eggs Is Q 12 000 2 000p And The Supply Of Eggs Is Q 1 500 3 000p Where Quantity Is Measured In 1 (15.59 KiB) Viewed 19 times
Suppose the demand for eggs is Q=12,000-2,000P and the supply of eggs is Q=-1,500 +3,000P where quantity is measured in millions (of eggs) Find the market-clearing price and quantity for eggs (Enter price responses rounded to two decimal places) The market clearning price is $2.7 and the market-clearing quantity is 6600 million oggs. Now suppose the cost of producing eggs increases such that the supply curve for eggs shifts to Q=-3,000+3,000P. Find the market-clearing price and quantity for the product The market clearing price is $ and the market-clearing quantity is milion eggs