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Andru [333]
3 years ago
10

Price Per Unit Quantity Supplied Quantity Demanded $10 100 295 11 150 275 12 190 250 13 220 220 14 245 180 15 265 135 If a techn

ological advance lowers production costs such that the quantity supplied increases by 60 units of this product at each price, the new equilibrium price would be

Business
1 answer:
Contact [7]3 years ago
6 0

Answer:

$12

Explanation:

Equilibrium price is price at the point where quantity supplied equals the quantity demanded.

Please check the attached image for a table showing how equilibrium was found

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