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Economics

Using the following schedule, define the equilibrium price and quantity. Describe the situation at a price of $10. What will occur? Describe the situation at a price of $2. What will occur?

Price Quantity Demanded Quantity Supplied

1 500 100

2 400 120

3 350 150

4 320 200

5 300 300

6 275 410

7 260 500

8 230 650

9 200 800

10 150 975

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M969117

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