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Determine the size of the market surplus or shortage that would es a price of $40. There will be a shortage of 75.0 hours.

Determine the size of the market surplus or shortage that would es a price of $40. There will be a shortage of 75.0 hours.

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section5.2: Cloting Choices
Problem 1R
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es Price of Tutoring (dollars per hour) 60 55 50 45 40 35 30 25 20 15 10 5 0 Market supply Market demand 25 50 75 100 125 150 175 Quantity (hours per semester)
Transcribed Image Text:es Price of Tutoring (dollars per hour) 60 55 50 45 40 35 30 25 20 15 10 5 0 Market supply Market demand 25 50 75 100 125 150 175 Quantity (hours per semester)
a Determine the size of the market surplus or shortage that would exist at a price of $40. There will be a shortage of b Determine the size of the market surplus or shortage that would exist at 75.0 hours Instructions: Round your response to one decimal place. There will be a surplus hours. of
Transcribed Image Text:a Determine the size of the market surplus or shortage that would exist at a price of $40. There will be a shortage of b Determine the size of the market surplus or shortage that would exist at 75.0 hours Instructions: Round your response to one decimal place. There will be a surplus hours. of
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