Refer to Figure 10-3. What is the equilibrium price in this market? $8 O Between $8 and $10 $10 O More than $10

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter4: Demand, Supply, And Markets
Section: Chapter Questions
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$8
PRICE
20
O $10
18
16
14
12
10
8
6
4
2
Social Value
Between $8 and $10
More than $10
4
6
8
Refer to Figure 10-3. What is the equilibrium price in this market?
10
QUANTITY
Supply
Demand
+
12 14 16 18 20
Transcribed Image Text:$8 PRICE 20 O $10 18 16 14 12 10 8 6 4 2 Social Value Between $8 and $10 More than $10 4 6 8 Refer to Figure 10-3. What is the equilibrium price in this market? 10 QUANTITY Supply Demand + 12 14 16 18 20
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