Look at the table the market for cholate covered peanuts If

Look at the table the market for cholate- covered peanuts. If the price of chocolate-covered peanut is $0.60, the price will:
A. Fall to $0.30
B. Rise to $0.70
C. Not change
Table: The Market for Chocolate-Covered Peanuts Price Quantity Demanded Quantity Supplied (bags per month)(bags per month) (per bag $0.90 0.80 0.70 0.60 0.50 0.40 0.30 70 105 140 175 210 245 280 280 245 210 175 140 105 70 Reference: Ref 3-8 (Table: The Market for Chocolate-Covered Peanuts) Look

Solution

Will not change because at this price quantity demanded i sequal to quantity supplied (175) and hence there is equilibrium in the market.

Look at the table the market for cholate- covered peanuts. If the price of chocolate-covered peanut is $0.60, the price will: A. Fall to $0.30 B. Rise to $0.70

Get Help Now

Submit a Take Down Notice

Tutor
Tutor: Dr Jack
Most rated tutor on our site