What would drive the market toward the equilibrium, Microeconomics

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What would drive the market toward the equilibrium

The market for pizza has the following demand and supply schedules:

Price Quantity Demanded Quantity Supplied
$4 135 pizzas 26 pizzas
5 104 53
6 81 81
7 68 98
8 53 110
9 39 121

a. Graph the demand and supply curves. What is the equilibrium price and quantity in this market?

b. If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium?

c. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium?

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Microeconomics: What would drive the market toward the equilibrium

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Microeconomics: What would drive the market toward the equilibrium

Reference No:- TGS072362

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What would drive the market toward the equilibrium

Reference No:- TGS072362

Recent Questions Asked Microeconomics

Q : What is the equilibrium price of a car stereo

Q : Why we need both macrosociology and microsociology

Q : Outstanding common stock of shell company

Q : Interests you enough to study further

Q : What would drive the market toward the equilibrium

Q : What is the change in the daily contribution margin

Q : Heredity and environment on his/her psychological

Q : What advice would to give the owner of the dealership

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