The following table gives the monthly supply and demand for face mask in the PhilippinesQuantityQuantity Supplied(in million)PriceSurplus (+)or shortage (-)Demanded(inmillion)853.4072803.7073754.0075704.3077654.6079604.9081Calculate the surplus/shortageb. Plot the supply and demand curve of the above supply and demand scheduleа.

The markets are the place where the buyers of goods, services, and other products meet, and interact…

The following table gives the monthly supply and demand for face mask in the Philippines Quantity Supplied Surplus (+) (in million) Quantity Price Demanded (in million) or shortage (-) 85 3.40 3.70 72 80 73 75 4.00 75 70 4.30 77 65 4.60 79 60 4.90 81 a. Calculate the surplus/shortage b. Plot the supply and demand curve of the above supply and demand schedule

The following table gives the monthly supply and demand for face mask in the Philippines Quantity Supplied Surplus (+) (in million) Quantity Price Demanded (in million) or shortage (-) 85 3.40 3.70 72 80 73 75 4.00 75 70 4.30 77 65 4.60 79 60 4.90 81 a. Calculate the surplus/shortage b. Plot the supply and demand curve of the above supply and demand schedule

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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