2. Let (inverse) demand be Pb = 100 - 3 Qb and (inverse) supply be Pv = 28 + 4 Qv. Consider the shift in demand illustrated (the intercept of Pb moves by 7), what is the ORIGINAL price? Answer: your answer Submit Price ($) $180 $ 160 $140 $120 $100 $80 $ 60 $ 40 $ 20 $0 $-20 0 5 Demand 10 Supply Quantity 15 Quantity Eqm 20 D + shift 25 30 35

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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2.
Let (inverse) demand be Pb = 100 - 3 Qb and (inverse) supply be Pv = 28 + 4 Qv. Consider the
shift in demand illustrated (the intercept of Pb moves by 7 ), what is the ORIGINAL price?
Answer: your answer
Submit
Price ($)
$ 180
$160
$140
$120
$100
$ 80
$ 60
$40
$20
$0
$-20
O
LO
5
Demand
10
Supply
Quantity
15
Quantity
Eqm
20
D + shift
25
30
35
Transcribed Image Text:2. Let (inverse) demand be Pb = 100 - 3 Qb and (inverse) supply be Pv = 28 + 4 Qv. Consider the shift in demand illustrated (the intercept of Pb moves by 7 ), what is the ORIGINAL price? Answer: your answer Submit Price ($) $ 180 $160 $140 $120 $100 $ 80 $ 60 $40 $20 $0 $-20 O LO 5 Demand 10 Supply Quantity 15 Quantity Eqm 20 D + shift 25 30 35
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