- 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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50 inches 4/5*x=40
x=40/(4/5)
x=40*5/4=200/4=50 x=50 inches
Answer:
47,643
Step-by-step explanation:
This question is basically asking you to add up all of these numbers together and present the end result.
1) 40,000 + 7,000 = 47,000
2) 600 + 40 + 3 = 643
3) 47,000 + 643 = 47,643.