The table below illustrates the market's demand and supply for cheddar cheese. Price Per Pound[$]Quantity demandedQuantity Supplied3.003202003.502802204.002402404.502002605.00160280A new study says that eating cheese is good for your health, so that demand increases by 30% at every price. What is the equilibrium quantity in the market after the study?

Market equilibrium condition is where demand for goods and supply for goods are equal . Here after…

Answered: The table below illustrates the…

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 2MC

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The table below illustrates the market's demand and supply for cheddar cheese.

Price Per Pound[$]	Quantity demanded	Quantity Supplied
3.00	320	200
3.50	280	220
4.00	240	240
4.50	200	260
5.00	160	280

A new study says that eating cheese is good for your health, so that demand increases by 30% at every price. What is the equilibrium quantity in the market after the study?

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