Market for Almonds Price ($/pound) Quantity Demanded Quantity Supplied 13 1600 1200 14 1500 1300 15 1400 1400 16 1300 1500 17 1200 1600 18 1100 1700 Beginning with the initial equilibrium, suppose positive advertisement on almonds changes quantities demanded by 100 and at the same time higher productivity of la
Market for Almonds Price ($/pound) Quantity Demanded Quantity Supplied 13 1600 1200 14 1500 1300 15 1400 1400 16 1300 1500 17 1200 1600 18 1100 1700 Beginning with the initial equilibrium, suppose positive advertisement on almonds changes quantities demanded by 100 and at the same time higher productivity of la
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 9P
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Question
Market for Almonds
Price ($/pound) Quantity Demanded Quantity Supplied
13 1600 1200
14 1500 1300
15 1400 1400
16 1300 1500
17 1200 1600
18 1100 1700
Beginning with the initial equilibrium, suppose positive advertisement on almonds changes quantities demanded by 100 and at the same time higher productivity of labor changes quantities supplied by 300.
What is the new market equilibrium price and quantity ?
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