Determine the new equilibrium price and quanity reproduce

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Reference no: EM13243549

Original quanity | new quantity . |price. |quanity supplied
demanded demanded
40 12$ 80
45 11$ 75
50 10$ 70
55 9$ 65
60 8$ 60
65 7$ 55
70 6$ 50
75 5$ 45

1. what is the equilibrium price and quanity? explain
2.what will occur if the price is instially set a $12
3.what will occur if the price is originally set at $5
4.draw a graph that illustrates the information for example

Now suppose that the demand increases by 10 units at each price.fill in the new quanity demanded in table above
5.determine the new equilibrium price and quanity
6.reproduce the graph tha u drew for question 4 and label oringinaldemand and supply schedules and labal oringinal equilibium priceand quanity.

Reference no: EM13243549

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