1. The table below shows information on the demand and supply for Chicken, where the Price GHS 120 GHS 150 quantities of Chicken are measured in thousands. as 36 50 40 32 28 40 48 GHS 180 GHS 210 GHS 240 rable 1. Demand and Supply for Chicken 56 70 24 a. What is the quantity demanded and the quantity supplied of Chicken at a price of GHS 210? b. At what price is the quantity supplied equal to 48,000 Chickens? c. Graph the demand and supply curve for Chickens. Determine the equilibrium price and quantity from the graph? d. If the price was GHS 120, what would the quantities demanded and supplied be? Would a shortage or surplus exist? If so, how large would the shortage or surplus be?

1. The table below shows information on the demand and supply for Chicken, where the Price GHS 120 GHS 150 quantities of Chicken are measured in thousands. as 36 50 40 32 28 40 48 GHS 180 GHS 210 GHS 240 rable 1. Demand and Supply for Chicken 56 70 24 a. What is the quantity demanded and the quantity supplied of Chicken at a price of GHS 210? b. At what price is the quantity supplied equal to 48,000 Chickens? c. Graph the demand and supply curve for Chickens. Determine the equilibrium price and quantity from the graph? d. If the price was GHS 120, what would the quantities demanded and supplied be? Would a shortage or surplus exist? If so, how large would the shortage or surplus be?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 53P: Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles...

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