Direction: Using the graph below as basis answer the following questions in the space provided. 1. If the economy is experiencing a shortage in bagels what can suppliers do to the price to bring it back to equilibrium? _______________ 2. At price 1 and with quantity demanded of 14 and quantity supplied of 2, what is the situation of the economy?
Direction: Using the graph below as basis answer the following questions in the space provided. 1. If the economy is experiencing a shortage in bagels what can suppliers do to the price to bring it back to equilibrium? _______________ 2. At price 1 and with quantity demanded of 14 and quantity supplied of 2, what is the situation of the economy?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Direction: Using the graph below as basis answer the following questions in the space provided.
1. If the economy is experiencing a
shortage in bagels what can
suppliers do to the
back to equilibrium?
_______________
2. At price 1 and with quantity
demanded of 14 and quantity supplied of
2, what is the situation of the economy?
_______________
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