If the price is set at $100 imposed on the industry, determine: ) quantity demanded Q= Type your answer here fv) quantity supplied Q= Type your answer here v) excess demand Type your answer here vi) excess supply Type your answer here (report everything in absolute value)

If the price is set at $100 imposed on the industry, determine: ) quantity demanded Q= Type your answer here fv) quantity supplied Q= Type your answer here v) excess demand Type your answer here vi) excess supply Type your answer here (report everything in absolute value)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 1E: The Potomac Range Corporation manufactures a line of microwave ovens costing $500 each. Its sales...

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Why is the answer $4 and 4 units? I am very confused about it. I think "4 units" is demand instead of output when equilibrium is reached. I will appreciated it if you can tell me why. Thank you. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
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