Suppose a producer charges $20 for a new toy. At this price, the producer supplies more toys than people demand, so there is a(n) _. The producer decides to lower the price to $15. At this new price, quantity supplied equals quantity demanded. So, $15 is the _.

suppose a producer charges $20 for a new toy. At this price, the producer supplies more toys than people demand, so there is an excess supply. The producer decides to lower the price to $15. At this new price, quantity supplied equals quantity demanded. So $15 is the equilibrium price.

Answer Link

Ilovelearningg Ilovelearningg · Answer 2 · 2019-01-09T16:46:56+01:00

Ilovelearningg Ilovelearningg

09-01-2019

A. excess supply, equilibrium price :)

Answer Link

Suppose a producer charges $20 for a new toy. At this price, the producer supplies more toys than people demand, so there is a(n) _____. The producer decides to lower the price to $15. At this new price, quantity supplied equals quantity demanded. So, $15 is the _____.

Respuesta :

Otras preguntas

Suppose a producer charges $20 for a new toy. At this price, the producer supplies more toys than people demand, so there is a(n) _. The producer decides to lower the price to $15. At this new price, quantity supplied equals quantity demanded. So, $15 is the _.