Question
Use Table 1 to graph the Supply and Demand for Vegan Chocolate Chip Cookies: Table 1...
- Use Table 1 to graph the Supply and Demand for Vegan Chocolate Chip Cookies:
|
Table 1 |
||
|
Price (per box of cookies) |
Quantity Demanded |
Quantity Supplied |
|
50 |
160 |
130 |
|
60 |
150 |
140 |
|
70 |
140 |
150 |
|
80 |
130 |
160 |
|
90 |
120 |
170 |
|
100 |
110 |
180 |
- Use Table 1 to answer: If the price of a box of cookies is $60, is there a shortage in the market? How does price adjust? Explain and show graphically.
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