Answer:
$6 per bushel
3 thousand bushels
Explanation:
The equilibrium price is the price for which the quantities demanded and supplied are the same, regardless of the price floor.
The equilibrium quantity is given by:
The equilibrium price is:
At market equilibrium, the price is $6 per bushel, and the equilibrium quantity is 3 thousand bushels.
Answer:
D) Product Differentiation Strategy:
Explanation: