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b what is the equilibrium price in the boomerang market...

Question: b what is the equilibrium price in the boomerang market...

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b. What is the equilibrium price in the boomerang market? How many (O) will be sold at price? (4 marks) Dr. Ab a The c. If boomerangs become more popular and the public demands 4 more boomerangsat all possible prices, what will be the new equilibrium price. Draw the change in demand on the graph above. (2 marks) b. P doul 2 What is the difference between a demand schedule and a demand curve? (2 marks) 3. What is the law of demand? (4 marks) 4. For each problem, answer the question then illustrate the change that will occur on the graph below. First draw the original demand line and label it dl. Then draw the new demand line ad label it d2

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