The table shows the demand and supply schedules for bread. A drought in wheat growing areas decreases the supply of bread by 75 oaves a day. The new equilibrium price is $ loaves a day. a loaf and the new equilibrium quantity is

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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The table shows the demand and supply schedules for bread.
A drought in wheat growing areas decreases the supply of bread by 75
loaves a day.
The new equilibrium price is $
loaves a day.
a loaf and the new equilibrium quantity is
Price
(dollars per
loaf)
1.00
1.35
1.70
2.05
2.40
Quantity
demanded Quantity supplied
(loaves per day)
250
200
150
100
50
25
50
75
100
125
Transcribed Image Text:The table shows the demand and supply schedules for bread. A drought in wheat growing areas decreases the supply of bread by 75 loaves a day. The new equilibrium price is $ loaves a day. a loaf and the new equilibrium quantity is Price (dollars per loaf) 1.00 1.35 1.70 2.05 2.40 Quantity demanded Quantity supplied (loaves per day) 250 200 150 100 50 25 50 75 100 125
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