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The market for cantaloupe has the following demand and supply schedules a. Graph the demand and...

The market for cantaloupe has the following demand and supply schedules

a. Graph the demand and supply curves. What is the equilibrium price and quantity in this market?

b. What happens, if the price of cantaloupe is $12/t?

c. What happens if the price of cantaloupe is $22?

Price Quantity demanded Quantity supplied
5 105 25
10 90 50
15 75 75
20 60 100
25 45 125
30 30 150

d. Derive equations for demand and supply curves

business   economics   
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Answer #1

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