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Home / Questions / The market demand schedule and supply schedule for digital cameras is shown in the table below

The market demand schedule and supply schedule for digital cameras is shown in the table below

The market demand schedule and supply schedule for digital cameras is shown in the table below. Illustrate the answers with the help of a graph.

 

Price ($/unit)

Quantity Demanded (units)

Quantity Supplied (units)

10

400

150

20

360

210

30

300

300

40

240

340

50

200

360

a)Determine the equilibrium quantity and price.

b)What is the excess demand in the market if the price is set at $20?

c)What is the excess supply in the market if the price is set at $40?

Mar 14 2020 View more View Less

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