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200 100 220 180 120 200 160 140 180 140 160 160 120 180 140 100 200 120 80 220 100 1. Plot demand and supply curves 2. What is the equilibrium price and quantity? 3. Illustrate and explain what would happen if Sunny charged $100 for the DVD players? 4. illustrate and explain the effect of Sunny charging $160?

200 100 220 180 120 200 160 140 180 140 160 160 120 180 140 100 200 120 80 220 100 1. Plot demand and supply curves 2. What is the equilibrium price and quantity? 3. Illustrate and explain what would happen if Sunny charged $100 for the DVD players? 4. illustrate and explain the effect of Sunny charging $160?

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 8PA
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answer only 3 and 4 pls illustrate
Equilibrium Question 1 Sunny Ltd has produced a new DVD player for the UK market. The following demand and supply data is the result of recent market research. PRICE ($) DEMAND SUPPLY 200 100 220 180 120 200 160 140 180 140 160 160 120 180 140 100 200 120 80 220 100 1. Plot demand and supply curves 2. What is the equilibrium price and quantity? 3. Illustrate and explain what would happen if Sunny charged $100 for the DVD players? 4. illustrate and explain the effect of Sunny charging $160?
Transcribed Image Text:Equilibrium Question 1 Sunny Ltd has produced a new DVD player for the UK market. The following demand and supply data is the result of recent market research. PRICE ($) DEMAND SUPPLY 200 100 220 180 120 200 160 140 180 140 160 160 120 180 140 100 200 120 80 220 100 1. Plot demand and supply curves 2. What is the equilibrium price and quantity? 3. Illustrate and explain what would happen if Sunny charged $100 for the DVD players? 4. illustrate and explain the effect of Sunny charging $160?
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