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Using the table below answer the following question Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.4: Putting Supply And Demand Together

Problem 1R

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Question

Using the table below answer the following question

Price	Quantity demanded	Quantity supplied
$300	60	30
$400	55	40
$500	50	50
$600	45	60
$700	40	70
$800	35	80

In response, to lobbying by the skate board association, the government places a
price ceiling of $400 on skate boards. Use the information provided in Table to
plot the supply and demand curve for skate boards.

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