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Question: a market for tomatoes the graph below shows an unregulated...

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A Market for Tomatoes

The graph below shows an unregulated competitive market for tomatoes, where S is the supply curve and D is the demand curve.

Demand and supply

Question 31 (1 point)

In the scenario above, the equilibrium price of tomatoes is _____ per pound and the equilibrium quantity is _____ million pounds.

$4.00; 6

$2.40; 7

$3.20; 8

$2.40; 10

$4.00; 9

In the scenario above, suppose the current price of tomatoes is $4 per pound. What quantity of tomatoes will be sold?

6 million pounds

8 million pounds

9 million pounds

10 million pounds

7 million pounds

In the scenario above, if the current price of tomatoes is $3 per pound, there is _____ in the market, so the price will _____.

Question 33 options:

a shortage; rise

a surplus; rise

an equilibrium; not change

a shortage; fall

a surplus; fall

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