IDNLearn.com offers expert insights and community wisdom to answer your queries. Ask your questions and receive reliable and comprehensive answers from our dedicated community of professionals.
Refer to the following supply and demand schedules for the market for yo-yos.
1.What are the equilibrium price and quantity of yo-yos? Explain your answer, and show your work.
2. If price in the market is $2, will there be a surplus or shortage of yo-yos and how large will the surplus/shortage be? Explain your answer, and show your work.
3.If price is $2, will price tend to increase, decrease, or stay the same over time?
4.If the price in the market is $5, will there be a surplus or shortage of yo-yos and how large will the surplus/shortage be? Explain your answer, and show your work.
5. If price is $5, will it tend to increase, decrease, or stay the same over time?
Sagot :
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Your search for solutions ends at IDNLearn.com. Thank you for visiting, and we look forward to helping you again.
