1. At a price of $15 a unit, how many units are consumers willing to buy? 2. At

Q: 1. At a price of $15 a unit, how many units are consumers willing to buy? 2. At

1) At the price of $ 15, consumer would be willing to buy zero unit. 2) At a price of $ 5 a unit, supplier will be willing to supply only 5 units. 3) Equilibrium price and quantity are decided where demand and supply forces are equal. Equilibrium price = $ 7.5 ( Approx.) Equilibrium Quantity = 7.5 Units ( Approx.)

ID: 1135946 • Letter: 1

Question

1. At a price of $15 a unit, how many units are consumers willing to buy? 2. At a price of $5 a unit, how many units are suppliers willing to supply? 3. What is the equilibrium price shown? Use the following graph to answer the questions below (3 points each). Numb $15 $10 $5 $0 10 15 0 1. At a price of $15 a unit how many units are consumers willing to buy? 2 At a price of $5 a unit how many units are suppliers willing to supply? 3 What is the equilibrium price shown? When fnished, make sure to click Submit Optionally, clicl Save as Draft to saue changes and continue working

Explanation / Answer

At the price of $ 15, consumer would be willing to buy zero unit.

At a price of $ 5 a unit, supplier will be willing to supply only 5 units.

Equilibrium price and quantity are decided where demand and supply forces are equal.

Equilibrium price = $ 7.5 ( Approx.)

Equilibrium Quantity = 7.5 Units ( Approx.)

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1. At a price of $15 a unit, how many units are consumers willing to buy? 2. At

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