Week 2 - Apply Market Dynamics and Efficiency - All Answers are Correct
Wk 2 - Apply: Market Dynamics and Efficiency 2. The graph below depicts the market for oranges at a local farmers' market. Instructions: Enter your answers as a whole number. a. If a producer tries to sell oranges at a price of $0.30 per pound, what will be the quantity demanded and quantity supplied at this price? Qd = pounds of oranges Qs = pounds of oranges b. Determine whether there is a surplus or a shortage at a price of $0.30 per pound, and determine the size of the surplus or shortage. At this price, the
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week 2 apply market dynamics and efficiency
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