Answer Happy

Suppose the market for copper is illustrated in the figure to the right The equilibrium quantity of copper is million metric tons per year (Enter your response rounded to two decimal places) and the equilibrium price is $ per pound (Enter your response rounded to two decimal places) If instead the market price were $3.25 per pound, then there would be a million metric tons per year. (Enter your response rounded to one decimal place.) of COFF Price (dollars per pound 5.00- 4.50- 4.00 150- 3.00- 2.50 200 1.50- 1.00 050- 0.00- The Market for Copper S 2 3 4 Quantity (milion metric tons/year) ROO