Draw a supply and demand graph for Orange juice. Show the market at an equilibrium price of $5 and equilibrium quantity of 200. If the number of buyers decrease and the number of sellers increase, what is the effect on the equilibrium price and equilibrium quantity. Explain and show the change on the graph

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter3: Market Demand And Supply
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Draw a supply and demand graph for Orange juice. Show the market at an equilibrium price of $5 and equilibrium quantity of 200. If
the number of buyers decrease and the number of sellers increase, what is the effect on the equilibrium price and equilibrium quantity.
Explain and show the change on the graph
Transcribed Image Text:Draw a supply and demand graph for Orange juice. Show the market at an equilibrium price of $5 and equilibrium quantity of 200. If the number of buyers decrease and the number of sellers increase, what is the effect on the equilibrium price and equilibrium quantity. Explain and show the change on the graph
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