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

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

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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