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- vSuppose that supply and demand for a certain commodity are described by the supply curve, p=0.0001q+0.005 , and demand curve, p=-0.002q+62.00 . Determine the quantity of the commodity that will be produced and the selling price.Quiz: Demand i 47 2 S W H X There is a decrease in the number of buyers wishing to purchase cheddar snack crackers. How will this impact the market for cheddar snack crackers? Multiple Choice O #3 Demand for cheddar snack crackers will increase. The quantity demanded of cheddar snack crackers will decrease. Demand for cheddar snack crackers will decrease. The quantity demanded of cheddar snack crackers will increase. a E D C $ 4 R F V SPLO 5 T G * 8 00 1 M ( 9 J. K < O < I 32 -0 L command A P - ; Help Save & Exit I 24 1 { [ option + 11 = ? B ". Submit } 1suppose the price of an item icreases by 10% that the quanity supplied of that same item decreases by 2%. what does the value tell you about the good in question?
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- The price of milk falls.this causes an increase in the price of good cheese. therefoe, milk and cheese are complementsThere are no calcul? How do you find the new equilibrium price?A restaurant owner learns that when he raises the price of his fries from $1 to $1.50 the quantity demanded falls from 100 to 90 baskets. This owner should raise the price of fries O lower the price of fries keep the price of fries same