Question

if the equilibrium price of good x is $10 and the equilibrium quantity is 60 units. what will be the demand if the price of x is 4?

Answer 1

Explanation:

Suppose the equilibrium price of good X is $10 and the equilibrium quantity is 60 units. If the price of good X is $4:

a. The quantity supplied will be more than 60 units.

b. The quantity demanded will be more than 60 units

c. There will be an excess supply of good X.

d.The quantity demanded will be less than 60 units.