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Macroeconomics 1st Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 1ISBN: 978-0077230975Macroeconomics 1st Edition by Campbell McConnell,Stanley Brue,Sean Flynn
Edition 1ISBN: 978-0077230975 Exercise 8
Suppose the total demand for wheat and the total supply of wheat per month in the Kansas City grain market are as follows:
a. What is the equilibrium price What is the equilibrium quantity Fill in the surplus-shortage column and use it to explain why your answers are correct.
a. What is the equilibrium price What is the equilibrium quantity Fill in the surplus-shortage column and use it to explain why your answers are correct.
Explanation
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(a) P e = $4.00; Q e = 75,000. Data from...
Macroeconomics 1st Edition by Campbell McConnell,Stanley Brue,Sean Flynn
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