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Q. "Explain why, if the price of a good is above the equilibrium price, the forces of supply and demand will tend to push the price toward equilibrium."

Q, In 1949 Sherbrooke, Quebec built a hospital for about $500,000. In 1987 the county restored the courthouse for about $2.4 million. A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. As per to these numbers the hospital cost about how much in 2000 dollars?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9274455

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