# ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework

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# ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework

Review the Week 2 Market Dynamics and Efficiency Quiz in preparation for this assignment.

Complete the Week 2 Market Dynamics and Efficiency Homework in McGraw-Hill Connect®. These are randomized questions.

Note: You have only one attempt available to complete assignments. Grades must be transferred manually to eCampus by your instructor. Don’t worry, this might happen after the due date.

The demand and supply schedules for sunscreen at a small beach are shown below.

Market for Sunscreen

 Price (dollars per bottle) Quantity of Sunscreen Demanded (bottles) Quantity of Sunscreen Supplied (bottles) \$35 1,000 8,500 30 2,000 7,000 25 3,000 5,500 20 4,000 4,000 15 5,000 2,500 10 6,000 1,000

1. If the price is \$15 per bottle, how many bottles of sunscreen are demanded and supplied?

Qd =   bottles

Qs =  bottles

In this case, there would be upward pressure on the price.

1. What is the equilibrium price and quantity in the market for sunscreen?
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