ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework | eBooks | Education

ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework

ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework PLDZ-9514 Free
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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

 

 

Instructions: Enter your answers as a whole number.

 

 

 

 

    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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