230 Ch 6: Supply and Demand

Ch 6 Economics


         

       

Name: 


  1. What is the equilibrium price for the problem presented? 



  1. What does the equilibrium price indicate to a manager?



  1. What would probably happen if the supplier established a retail price of $7.00 instead of using the equilibirum price?



  1. What would probably happen if the supplier established a retail price of $4.00 instead of using the equilibirum price?






Ed Mondragon
CTE Coordinator
Granite CTE Department
Salt Lake City, UT