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lisabon 2012 [21]
2 years ago
13

draw a basic market graph. Title it the market for the product in your news article. Label axes, curves, eqilibruim price and eq

uilibrium quantity
Mathematics
1 answer:
Vaselesa [24]2 years ago
6 0

The basic market graph is attached below.

<h3>What do you mean by market equilibrium?</h3>

A market is said to have reached equilibrium price when the supply of goods matches demand.

The equilibrium price is the only price where the plans of consumers and the plans of producers agree, where the amount consumers want to buy of the product, quantity demanded, is equal to the amount producers want to sell, quantity supplied. This common quantity is called the equilibrium quantity.

Quantity of gasoline:

Explanation of graph: The demand curve, D, and the supply curve, S, intersect at the equilibrium point E, with an equilibrium price of 1.4 dollars and an equilibrium quantity of 600.

The equilibrium is the only price where quantity demanded is equal to quantity supplied. At a price above equilibrium, like 1.8 dollars, quantity supplied exceeds the quantity demanded, so there is excess supply.

At a price below equilibrium, such as 1.2 dollars, quantity demanded exceeds quantity supplied, so there is excess demand.

Learn more about  equilibrium quantity here:

brainly.com/question/14480835

#SPJ1

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Simplify (-2)^-3<br> a. -8<br> b. -1/8<br> c. 1/8<br> d. 8
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Julio bought 12 bulbs of jumbo garlic for $11.88. How many bulbs of jumbo garlic can Anjali buy if she has $3.96?
Molodets [167]

Answer:

Anjali can buy 4 bulbs of jumbo garlic if she has $3.96.

Step-by-step explanation:

To calculate how many bulbs of jumbo garlic Anjali can buy with $3.96, we must first calculate the unit rate of the jumbo garlic. Julio buying 12 bulbs of jumbo garlic for $11.88 can be represented as:

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Divide the fraction by \frac{12}{12} to calculate the unit rate:

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So if each bulb of garlic costs $0.99, which we can think of as being $1.00 at the moment, we could figure that Anjali's $3.96 would be closer to $4 than it is to $3, so let's multiply the unit rate by \frac{4}{4}:

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\frac{3.96}{4}

Therefore, Anjali can buy 4 bulbs of jumbo garlic if she has $3.96.

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Check your work by dividing \frac{3.96}{4} by \frac{4}{4} to see if you will get your initial unit rate:

\frac{3.96}{4} ÷ \frac{4}{4} =

\frac{0.99}{1}

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