- The equilibrium price is $1.12.
- If price is $0.98, there would be scarcity of Super Widgets.
- When price is $0.98, quantity demanded is y.
- When price is $0.98, quantity supplied is x.
- When price is $1.22, there would be a surplus of Super Widgets.
<h3>What is equilibrium? </h3>
Equilibrium price is the price at which the quantity demanded equals the quantity supplied. The equilibrium price is $1.12.
Above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus. When price is below equilibrium price, quantity supplied would be less quantity demanded and there would be a scarcity.
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Jack would have $9,317 more than Henry. I can’t really show work, sorry
It led to the beginning of the Renaissance.
30 because 2/5 are girls so 3/5 are boys and 24/3 +8 so 1/5=8 so 8*5 + 40 kids
Hope this helped
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