Jestion 1 nny Ltd has produced a new DVD player for the UK market. The following demand d supply data is the result of recent market research. PRICE (S) DEMAND SUPPLY 200 100 220 180 120 200 160 140 180 140 160 160 120 180 140 100 200 120 80 220 100 1. Plot demand and supply curves 2. What is the equilibrium price and quantity?

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section3.3: The Market: Putting Supply And Demand Together
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Answer only 2,3 and 4. Please illustrate using a graph for 3 and 4
Equilibrium
Question 1
Sunny Ltd has produced a new DVD player for the UK market. The following demand
and supply data is the result of recent market research.
PRICE ($)
DEMAND
SUPPLY
200
100
220
180
120
200
160
140
180
140
160
160
120
180
140
100
200
120
80
220
100
1. Plot demand and supply curves
2. What is the equilibrium price and quantity?
3. Illustrate and explain what would happen if Sunny charged $100 for the DVD
players?
4. illustrate and explain the effect of Sunny charging $160?
Transcribed Image Text:Equilibrium Question 1 Sunny Ltd has produced a new DVD player for the UK market. The following demand and supply data is the result of recent market research. PRICE ($) DEMAND SUPPLY 200 100 220 180 120 200 160 140 180 140 160 160 120 180 140 100 200 120 80 220 100 1. Plot demand and supply curves 2. What is the equilibrium price and quantity? 3. Illustrate and explain what would happen if Sunny charged $100 for the DVD players? 4. illustrate and explain the effect of Sunny charging $160?
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