Question

Consider the table below representing the same market for candy bars: Price $0.75 $1.00 $1.25 $1.50...

Consider the table below representing the same market for candy bars:

Price $0.75 $1.00 $1.25 $1.50 $1.75 $2.00
Supply 110 120 130 140 150 160
Demand 200 180 160 140 120 100

Suppose that there is a change in supply such that producers are willing to supply 30 additional candy bars at every price. What is the new equilibrium price?

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Answer #1

$1.25

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