Concept explainers
Demand: E-Readers The demand for Amuon’s Kindle e-reader can be approximated by
a. Calculate the equilibrium price and equilibrium demand.
b. Graph the demand and supply functions to confirm your answer in part (a) graphically.
c. Estimate, lo the nearest 0.1 million units, the surplus or shortage of Kindle e-readers if the price is set at $72.
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