Complete the table by calculating the "New Market Quantity Supplied" if Ann decided to stop tutoring, and then answer one question.Instructions: Enter your responses as a whole number.QuantitySupplied byAnnQuantitySupplied by Supplied byBobMarket QuantitySupplied (= Ann+ Bob +CarlosQuantityNew MarketMarketPrice (perHour)QuantitySuppliedQuantityDemandedCarlos$35701006523590307080552059525607040170110206060351551151555402512012010402015751301010525158LO What would the new equilibrium price of tutoring services be if Ann decided to stop tutoring?per hour%24

Answered: Complete the table by calculating the…

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 5QFR

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What would the new equilibrium price of tutoring services be if Ann decided to stop tutoring?
per hour
%24

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Equilibrium is achieved at a point where demand curve intersects the supply curve. Market quantity is derived by summing the quantity supplied by individual producers.

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