Demand and Supply TablePriceQuantity QuantityofSupplied demandedCandy$100 80700$200 150350$300 250250$400 290180$500 35070$600 50050What is the total excess supply above?$1600$450$820$840

Step 1: Understand the Concept of Excess SupplyExcess supply occurs when the quantity of a good or…

Answered: Demand and Supply Table Price Quantity…

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 3.4P

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Demand and Supply Table Price Quantity Quantity of Supplied demanded Candy $100 80 700 $200 150 350 $300 250 250 $400 290 180 $500 350 70 $600 500 50 What is the total excess supply above? $1600 $450 $820 $840